Some Tuesday Charts to Watch

Good morning. Euro seems to be getting some relief, retesting 1.300 at time of writing. A breach would open the door to 1.32-1.33. German Zew and US CPI are today’s most important events.

Market sentiment: intraday – bullish, short-term – slightly bullish

Potential trade strategy: none

EURUSD hourly 10-16-2012

EURUSD hourly 10-16-2012

4hrs chart: 1.3070 follows 1.300 as next upside barrier to watch

EURUSD 4hrs 10-16-2012

EURUSD 4hrs 10-16-2012

EURGBP

.8100 is again in focus as EUR found bids around .8020 last week. Perhaps it’s time to end the consolidation and break above .8100 soon?

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to buy on break of .8100, target at .8200

EURGBP daily 10-16-2012

EURGBP daily 10-16-2012

EURJPY

Trendline support highlighted below held, and EUR bounced – retesting resistance zone. Short-term sentiment remains bullish, so I think it’s best to look for buying opportunities on the breach of 102.70-103

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to buy on break above 102.70-103, short-term target at 107

EURJPY  daily 10-16-2012

EURJPY daily 10-16-2012

GBPCAD

GBP is recovering, so 1.5800/25 is now in focus. The recovery from the lower 1.56 zone seems corrective so far, therefore I’m considering selling around this resistance level

Market sentiment: intraday – bullish, short-term – bearish

Potential trade strategy: to sell around 1.5825 if it holds, target at 1.5600

GBPCAD 4hrs 10-16-2012

GBPCAD 4hrs 10-16-2012

AUDUSD

Aussie dollar bounced off support formed around 1.0200 but recovery is still weak.

Market sentiment: intraday – bullish, short-term – slightly bearish

Potential trade strategy: none; or maybe consider buying on rally above 1.0300, target at 1.0400

AUDUSD daily 10-16-2012

AUDUSD daily 10-16-2012

have a great day!

One thought on “Some Tuesday Charts to Watch

  1. Pingback: Thursday Charts That Matter

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>