Tag Archives: AUDCAD

Thursday Charts 7/26/12

Good morning. Dollar is trading slightly lower across the board today on speculation that the US Fed will expand stimulus. The euro made a few attempts to recover towards $1.22 but eventually failed and is still consolidating gains a few points below 1.2150 – where resistance zone starts. Important events today are: ECB Draghi’s speech and Initial Jobless Claims (see Economic Calendar)

EURUSD

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

Potential trade strategy: buying on strength above 1.2150/70 looks both risky and tempting. Another plan is to look for a selling opportunity around 1.2310

EURUSD hourly 7-26-2012

EURUSD hourly 7-26-2012

4hrs:

EURUSD 4hrs 7-26-2012

EURUSD 4hrs 7-26-2012

USDCHF

Dollar pulled back after flirting with parity but upside remains in focus. Support formed by recent top at .9865 holds (so far) but it all depends on EURUSD’s attempt to climb above 1.2170

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

Potential trade strategy: none (no need to put two eggs in the same basket)

USDCHF 4hrs 7-26-2012

USDCHF 4hrs 7-26-2012

AUDUSD

Aussie dollar bounced off support formed by the rising trendline connecting previous higher lows and trades comfortably above 1.0300 at time of writing. It looks quite bullish for now

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

Potential trade strategy: to buy on minor pullback to 1.0300, target at 1.0450

AUDUSD 4hrs 7-26-2012

AUDUSD 4hrs 7-26-2012

USDCAD

Resistance around 1.0220 held and the US dollar pulled back to test support formed by the median retrace value of last up leg. But pressure is high and I for one doubt it will hold

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

Potential trade strategy: to sell on weakness below 1.0120, target at 1.0050 and parity

USDCAD 4hrs 7-26-2012

USDCAD 4hrs 7-26-2012

AUDCAD

This cross just screams “breakout”

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

Potential trade strategy: to buy on strength/breakout above 1.0510, stop below 1.0450, target at 1.0700+

AUDCAD daily 7-26-2012

AUDCAD daily 7-26-2012

have a great day!

Euro Sell-Off Likely to Continue

Good morning. Euro recovered some ground since yesterday but is facing selling pressure on each attempt to reach fresh intraday highs – and the sell-off is likely to continue amid Spain and Italy worries. According to yesterday’s poll, most readers are expecting the EUR to continue its decline – to $1.200 and below.

EURUSD

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

Potential trade strategy: to sell on pullback to 1.2150/70, initial stop above 1.2200, target at and below 1.200.

EURUSD 4hrs 7-24-2012

EURUSD 4hrs 7-24-2012

There are two sell zones quite obvious on the hourly chart: one at 1.2150 (gap filling) and the 2nd one between 1.2190 and 1.2220 – a 30-pip range formed by the two fib retracement levels

EURUSD hourly 7-24-2012

EURUSD hourly 7-24-2012

USDCHF

The dollar trades comfortably around .9900 against the Swiss franc and there’s a good chance that parity level will be tested soon

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

Potential trade strategy: to buy dips at .9860/80, target at 1.000 and above

USDCHF 4hrs 7-24-2012

USDCHF 4hrs 7-24-2012

EURJPY

EURJPY feels even heavier than EURUSD. But it does have a chance to recover, and that’s only if USDJPY makes a strong comeback and EURJPY would follow. But right now it’s the other way around: USDJPY following EURJPY downward. Well, whatever happens – one thing is clear enough: there are many sellers waiting in line to crush the EUR against the yen

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

Potential trade strategy: sell on minor pullbacks to 95.20, or maybe higher – at 95.80, target below 94

EURJPY hourly 7-24-2012

EURJPY hourly 7-24-2012

AUDUSD

Aussie dollar recovered some of its losses and is currently testing resistance formed by the MA lines seen below and the horizontal resistance around 1.0300. I don’t think it’s a good idea to buy it yet, as more EUR weakness would drag AUDUSD down as well.

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

Potential trade strategy: to sell into rally at 1.0350, stop above 1.0400, target at 1.0150

AUDUSD 4hrs 7-24-2012

AUDUSD 4hrs 7-24-2012

AUDCAD

Recovery continues after Aussie bounced off support around 1.0450 yesterday. Resistance to keep an eye on is formed at 1.0500/10

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

Potential trade strategy: to look for a swing trade buying opportunity on the potential break of 1.0500, target at 1.0700

AUDCAD 4hrs 7-24-2012

AUDCAD 4hrs 7-24-2012

have a great day!

Charts to Start the Week 7/23/12

Good morning. Euro continues its collapse, reaching a 11-year low against the Japanese yen and is trading near $1.200 against the dollar at time of writing. Current selling catalysts are the renewed talks of Greece eurozone exit and Spain worries.

Important events this week: Bernanke’s Speech, German IFO, New Home Sales, US Initial Jobless Claims, US GDP – see the Economic Calendar for details

[polldaddy poll=6409651]

EURUSD

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

Potential trade strategy: to sell on pullback to 1.2150/70, initial stop above 1.2200, target at and below 1.200

EURUSD 4hrs 7-23-2012

EURUSD 4hrs 7-23-2012

GBPUSD

Cable is following EUR and other risk-sensitive pairs lower and support at 1.5530 is on the radar screen. If price pulls back from here, selling is likely to be triggered around 1.5620

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

Potential trade strategy: to sell on pullback to 1.5620, target at 1.5530 Continue reading

Midweek Charts of Interest 7/18/12

Good morning. Euro holds onto gains after yesterday’s recovery from $1.2185 – level reached after the fast plunge of 1 big figure in one hour.

Today’s important events: UK MPC Meeting Minutes, Bernanke’s Testimony, BoC Monetary Policy Report (see FX Calendar for details)

EURUSD

Recovery is likely to continue, at least that’s what the 4hrs and daily charts suggest

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

Potential trade strategy:  to sell into rallies towards 1.2380-1.2400, targeting 1.2200 and below. Another plan is to buy on strength above current top side around $1.2310

eurusd hourly 7-18-2012

eurusd hourly 7-18-2012

Recovery continuation patterns are seen on both 4hrs and daily charts:

eurusd 4hrs 7-18-2012

eurusd 4hrs 7-18-2012

daily chart: Continue reading

Tuesday Charts 7/17/12

Good morning. Dollar is losing ground across the board as EUR recovers, testing $1.2300 a bit earlier today – on its way to $1.2400 where first important short-term resistance is seen

EURUSD

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

Potential trade strategy: to sell into rallies towards 1.2350-1.2400, targeting 1.2200 and below. Another plan, but riskier, would be to look for a buying opportunity around 1.2250, with an initial stop below 1.2200 and a target at 1.2400

eurusd 4hrs 7-17-2012

eurusd 4hrs 7-17-2012

hourly chart:

eurusd hourly 7-17-2012

eurusd hourly 7-17-2012

GBPUSD

Cable reached resistance formed by the trendline which is connecting recent tops, hence providing a potential sell opportunity

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

Potential trade strategy: to sell around resistance at 1.5650/60, with an initial target at 1.55 and a stop/reverse above resistance zone Continue reading

Dollar Continues Decline; Charts to End the Week

If you make people think they’re thinking, they’ll love you; But if you really make them think, they’ll hate you. ~ Don Marquis 

Good morning. Dollar resumed decline as EURUSD rallied above $1.3300 resistance level.

USD Index

Support around 78 is back in focus after dollar resumed decline yesterday

USD Index

USD Index Daily 2-24-2012

EURUSD

yesterday’s breakout suggests more upside and 1.3300 should now provide support on dips. Continue reading

EUR Recovery Continues

Politics is supposed to be the second oldest profession. I have come to realize that it bears a very close resemblance to the first. ~ Ronald Reagan

Good morning. Dollar continues to trade in a narrow range as EURUSD is still consolidating below $1.3300 which is the first resistance level to keep an eye on. German Ifo and US initial jobless claims are today’s most important events on the economic calendar.

USD Index

Not much to add here since yesterday as the dollar is floating on a calm sea lately, in the middle of a range formed by two horizontal lines connecting some of recent tops and bottoms. Selling pressure is still high, while EURUSD keeps pushing on $1.3300

USD Index Chart Daily 2-23-2012

USD Index Chart Daily 2-23-2012

EURUSD

1.3300 is under pressure in steady consolidation, so it’s probably a good idea to consider buying on the break higher. Continue reading

Midweek Risk-On Charts to Watch

The best ideas come as jokes. Make your thinking as funny as possible. ~ David M. Ogilvy

Good morning. Euro is little changed against the US dollar since yesterday, but upside remains favored while consolidation continues above $1.3200 which is the first intraday support zone.

USD Index

As seen below, not much happened since Monday’s opening, so the dollar stays in the middle of the range between 78.00/50 and 80. Rallies towards 80 would probably face serious selling near recent top, where the reversal candle is formed

USD Index Chart Daily 2-22-2012

USD Index Chart Daily 2-22-2012

EURUSD

1.3290 is where to look for a potential buy setup if EUR continues to strengthen, breaking above recent top. Continue reading

Greece Bailout Deal Sends EUR Higher Across the Board

It takes too much energy to be against something unless it’s really important. ~ Madeleine L’Engle

Good morning. The euro is strengthening across the board on Greece bailout news.

USD Index

Dollar’s decline continues after forming a reversal candle around 80. I guess it’s time to look at the range’s bottom where support is formed between 78 and 78.50

USD Index Chart Daily 2-21-2012

USD Index Chart Daily 2-21-2012

EURUSD

$1.3300 is intact after last test, but upside remains favoured as stock markets are likely to rally in the next sessions, hence EUR following. Continue reading

Dollar Down in Risk-On Trade Following Greece Austerity Vote

“Buy when there’s blood in the streets, even if the blood is your own.” ~ Baron Rothschild

Good morning. Euro recovered today as Greece passed austerity vote, at the cost of extreme violence and riots in Athens. Hence the dollar is trading lower, around Friday’s opening price.

USD Index

Dollar opened lower today, erasing Friday’s gains. Downside still in focus

USD Index Chart Daily 2-13-2012

USD Index Chart Daily 2-13-2012

EURUSD

Upside returns in focus after Asian recovery amid austerity vote. 1.3300 remains on the breakout watchlist Continue reading