Tag Archives: EURAUD

NFP Day is Here

The major block to compassion is the judgment in our minds. Judgment is the mind’s primary tool of separation. ~ Diane Berke

Good morning. Dollar holds onto gains as the euro is under pressure, declining towards $1.300 support. Not much is expected to happen until later today when the NFP data will be released.

USD Index

A potential EURUSD breakdown below 1.300 should push the dollar index to 80.50 and maybe 81, where the next resistance zone is formed.

USD Index Daily 4-6-2012

USD Index Daily 4-6-2012

S&P500

Correction continues but support formed by the bottom around 1390 still holds. I remain bullish, waiting for today’s market reaction to jobs report

SPX Daily 4-6-2012

SPX Daily 4-6-2012

EURUSD

1.300 is in focus and the question is whether it a bounce is likely. I, for one, don’t want to be on buyers’ side without seeing a reversal candle first, such as the one formed on February 16.

EURUSD Chart Daily 4-6-2012

EURUSD Chart Daily 4-6-2012

AUDJPY

Yesterday’s candle suggests that a recovery is due, so it seems a good idea to look for buying opportunities on strength above 85 (former support zone)

AUDJPY Chart Daily 4-6-2012

AUDJPY Chart Daily 4-6-2012

USDJPY

82 is intact after several tests, but bounces are weak; it’s probably best to wait for it to exit the range

USDJPY chart Daily 4-6-2012

USDJPY chart Daily 4-6-2012

EURAUD

I was expecting the recovery to continue towards 1.3000 but the sell-off is too strong these days. After yesterday’s drop, it’s probably best to look for more selling opportunities

EURAUD Chart Daily 4-6-2012

EURAUD Chart Daily 4-6-2012

Have a great day!

Charts to Start the Week 4/2/12

It’s not what happens to you that counts, but how you handle it. It’s not how far you fall, but how well you bounce. ~ Dan Zadra

Good morning. Dollar remains under pressure as euro holds above $1.3300 and it seems that a test of $1.3480/00 is in the cards this week.

USD Index

USD Index Daily 4-2-2012

USD Index Daily 4-2-2012

EURUSD

Support is now formed at 1.3300 and next upside barrier is at 1.3480/00 – recent top formed in February. Buying dips or on a break above last week’s top at 1.3380 are two things to consider Continue reading

Midweek Charts 3/28/12

Good instincts usually tell you what to do long before your head has figured it out. ~ Michael Burke

Good morning. Dollar remains under pressure while the euro managed to overcome resistance at $1.3300.

USD Index

No decisive break of interim support at 79 yet, but downside pressure remains high. In case of recovery, rallies would likely be sold around 79.50

USD Index Daily 3-28-2012

USD Index Daily 3-28-2012

EURUSD

Time to keep an eye on 1.3300 which is providing intraday support. Buying dips is probably what most people do these days, so it’s definitely not a hard task to reach 1.3500 soon. Continue reading

Charts to Start the Week 3/26/11

Trust yourself. You know more than you think you do. ~ Benjamin Spock

Good morning. Dollar remains under pressure as euro is finding bids on pullbacks, pushing higher towards $1.3300 which is the 1st resistance level to keep an eye on.

USD Index

Not much changed since a week ago: rallies are being sold every time dollar is approaching interim resistance at 80. While it looks heavy, it’s best to keep an eye on support around 79

USD Index Daily 3-26-2012

USD Index Daily 3-26-2012

EURUSD

1.3300 is still intact and recent corrections suggest that it’s not a good idea to bet on a stronger decline yet, because 1.3300 is still in focus. Although these days I rather focus on other pairs, I believe there’s more room for this recovery, hence buying on the potential break above 1.33 is a plan to consider

EURUSD chart 4hrs 3-26-2012

EURUSD chart 4hrs 3-26-2012

EURNZD

Time to question whether last week’s strong breakout was just a short-lived recovery attempt, as Thursday’s candle and Friday’s sell-off are suggesting that sellers are still out there. Support is now in focus and things don’t look too good from a bullish perspective.

EURNZD Chart daily 3-26-2012

EURNZD Chart daily 3-26-2012

EURAUD

Although EURNZD and EURAUD are positively correlated, EURAUD is less affected by last sell-off. It still holds onto gains almost 100 points above recent resistance around 1.26. Buying dips looks tempting

EURAUD Chart Daily 3-26-2012

EURAUD Chart Daily 3-26-2012

 

USDJPY

Dollar found support at 82 (61.8% of 80.50-84.10) after Thursday’s breakdown. 4hrs charts look bearish and there’s probably some more selling just around the corner if dollar retests resistance around 83.

USDJPY Chart 4hrs 3-26-2012

USDJPY Chart 4hrs 3-26-2012

AUDUSD

Aussie remains heavy and there’s much pressure on the support around 1.0400. I remain bearish while the pair holds below 1.0600/30

AUDUSD Chart Daily 3-26-2012

AUDUSD Chart Daily 3-26-2012

Have a great day

Thursday Charts: Dollar, Aussie Losing Ground

Trusting our intuition often saves us from disaster ~ Anne Wilson Schaef

Good morning. Dollar continues to be sold into rallies as the euro finds intraday support at $1.3185/00

USD Index

As seen below – dollar is losing ground on a short-term basis but it is still above recent corrective bottom at 79.

USD Index Daily 3-22-2012

USD Index Daily 3-22-2012

EURUSD

As noted yesterday, it’s probably still a good plan to buy dips while it holds above 1.3185/00. It’s also tempting to buy on the potential break above 1.3290/00. I prefer to wait a bit more while it is trading in the range highlighted below and rather focus on better trade setups Continue reading

Midweek Charts 3/21/12

Strong people make as many mistakes as weak people. Difference is that strong people admit their mistakes, laugh at them, learn from them. That is how they become strong. ~ Richard Needham

Good morning. There’s pressure on the dollar these days, as the euro continues recovery bringing resistance around $1.33 back in focus.

USD Index

Next support level is around 79, and it should be tested if EURUSD reaches 1.3290/00.

USD Index Daily 3-21-2012

USD Index Daily 3-21-2012

EURUSD

4hr and intraday charts are reflecting a bullish sentiment since 1.3185/00 was breached, and the daily charts should turn bullish if next barrier at 1.3290/00 fails. Buying dips on pullbacks seems a good daytrading plan. Continue reading

Charts to Start the Week 3/19/12

You may occasionally give out, but never give up. ~ Dan Zadra

Good morning. The dollar trades lower after Friday’s decline, as the euro tested resistance near $1.3200.

USD Index

The dollar index looks quite bearish on intraday basis, now that support at 80 has been breached. However, there’s still a good chance that this movement is corrective on short-term basis as the higher highs & higher lows structure started near 78 at the end of February is still intact

USD Index Daily 3-19-2012

USD Index Daily 3-19-2012

EURUSD

Interim resistance at 1.3190/00 is in focus after Friday’s strong rally from 1.3050. I am bearish on EURUSD while it holds below 1.33 Continue reading

US Dollar Pulls Back; Charts to End the Week

No one would ever have crossed the ocean if he or she could have gotten off the ship in a storm. ~ Charles Kettering

Good morning. Dollar pulled back yesterday against its main counterparts and the question now is whether the move is corrective.

USD Index

Former resistance is currently providing support at 80. Uptrend is intact and yesterday’s decline looks rather corrective

USD Index Daily 3-16-2012

USD Index Daily 3-16-2012

EURUSD

Resistance around 1.3100 is in focus as the euro bounced off support at 1.3000. Selling into rallies is probably the best thing to do for now, so if 1.3100 breaks, 1.3185/00 is another level which should provide resistance.

EURUSD Chart 4hrs 3-16-2012

EURUSD Chart 4hrs 3-16-2012

AUDUSD

Although bias is still bearish and there’s likely more selling to come, it’s time to be a bit more cautious as resistance at 1.0550 is under pressure since yesterday

AUDUSD Chart 4hrs 3-16-2012

AUDUSD Chart 4hrs 3-16-2012

EURAUD

1.2385/00 was tested a few times this month and it is still intact. But bounces were short-lived and that’s suggesting that a breakdown is in the cards

EURAUD Chart 4hrs 3-16-2012

EURAUD Chart 4hrs 3-16-2012

GBPUSD

There’s much pressure on this resistance zone between the two fib retracement values and, even if it fails, I remain bearish on cable as long as it holds below 1.58

GBPUSD Chart hourly 3-16-2012

GBPUSD Chart hourly 3-16-2012

have a great weekend!

Dollar Down Ahead of ECB Cash Injection

Sometimes the questions are complicated and the answers are simple. ~ Dr. Seuss

Good morning. The euro is consolidating gains near $1.3500 ahead of ECB cash injection of 500 billion euros according to expectations. Other important events on today’s economic calendar are the US GDP  data and Bernanke’s testimony. Let’s see what are some of the charts worth keeping an eye on

USD Index

Support around 78 is now under heavy pressure as the dollar continues to trade lower, while EURUSD maintains altitude near $1.3500 ahead of LTRO 2.0

USD Index Daily 2-29-2012

USD Index Daily 2-29-2012

EURUSD

Euro found support around 1.3380/00 so the entire recovery resumed on February 16 is intact. Today’s ECB action should push it above 1.3500 but it depends on the total funds injected, as a 500 billion figure is likely priced in already so it’s best to wait and see. Wondering what’s above $1.35? well, not much until $1.40

EURUSD 4hrs chart 2-29-2012

EURUSD 4hrs chart 2-29-2012

The potential breakout is more obvious on the daily chart as this is the 3rd daily attempt to break higher. Last decline was short-lived. One plan to consider is buying on the break above 1.3500 in the next sessions

EURUSD Chart Daily 2-29-2012

EURUSD Chart Daily 2-29-2012

GBPUSD

As noted on Monday, cable joined the breakout watchlist as it approached 1.5900. Now it is trading higher and I think there’s more room for recovery

GBPUSD Chart Daily 2-29-2012

GBPUSD Chart Daily 2-29-2012

Silver

Buying silver was (and still is) one of the best bets. As seen below, since the recovery started on December 29, all corrections were short-lived, so it was best to either buy dips or on strength/breakouts. I don’t think that the recovery has come to an end, hence I remain bullish, expecting a new breakout – above 62% fib

Silver Chart Daily 2-29-2012

Silver Chart Daily 2-29-2012

EURAUD

I was expecting 1.2500 to provide support after the break but I was wrong, the sell-off was just too strong.

EURAUD Chart Daily 2-29-2012

EURAUD Chart Daily 2-29-2012

Minor support around 1.2420 is still intact at time of writing but it’s probably a good idea to consider buying opportunities only higher – if EUR returns above 1.25

EURAUD Chart 4hrs 2-29-2012

EURAUD Chart 4hrs 2-29-2012

AUDUSD

Aussie dollar is another pair on the breakout watchlist as current top is under pressure and a re-test of 1.100 might be just around the corner.

AUDUSD Chart Daily 2-29-2012

AUDUSD Chart Daily 2-29-2012

have a great day!

 

Monday Charts

We forfeit three-fourths of ourselves in order to be like other people. ~ Arthur Schopenhauer

Good morning. Dollar drops further while EUR holds onto gains against important counterparts. Last week has been quite interesting and there have been some large moves, so it’s worth keeping an eye on some of them because things may get even more interesting.

USD Index

Support around 78 is in focus as dollar’s decline continues. A potential breakdown would push EURUSD well over $1.35. It is still lagging a bit behind EURUSD because of USDJPY which is quite strong lately, hence keeping dollar index above 78. Let’s see how this unfolds

USD Index Chart Daily 2-27-2012

USD Index Chart Daily 2-27-2012

EURUSD

Not many sellers around the 50% retracement value, as we can see below. So it’s probably time to focus on 1.35 and 1.3650, later. Momentum would remain positive on a short-term basis as long as 1.3250-1.3300 holds.

EURUSD Chart Daily 2-27-2012

EURUSD Chart Daily 2-27-2012

EURJPY

Indeed, there was no important barrier up to 110, as I noted last week. The entire rally was too strong, so one shouldn’t be surprised if a correction is due. I don’t call a top yet, but caution is a good thing

EURJPY Chart Daily 2-27-2012

EURJPY Chart Daily 2-27-2012

EURAUD

Buying on break of 1.2500 wasn’t a bad idea, and I don’t think it’s late to consider buying on dip towards 1.2500 which probably provides support now.

EURAUD Chart Daily 2-27-2012

EURAUD Chart Daily 2-27-2012

Silver

Silver holds onto gains after last week’s breakout above 34.50. It’s probably a good idea to buy dips if it pulls back to test support

Silver Chart Daily 2-27-2012

Silver Chart Daily 2-27-2012

GBPUSD

Cable is on the breakout watchlist while 1.5900 is under pressure. Perhaps it is time to re-enter the range of late October – mid November?

GBPUSD Chart Daily 2-27-2012

GBPUSD Chart Daily 2-27-2012

GBPJPY

As noted on Friday, the breakout above 127 is a decent buying signal on medium term basis.

GBPJPY Chart Weekly 2-27-2012

GBPJPY Chart Weekly 2-27-2012

Have a great week!