Good morning. Euro recovered some ground across the board mainly due to EURJPY rallying on prospects Japanese elections next month will result in aggressive monetary easing. USDJPY also rallied well above 80.00 – reaching levels last seen in April. There are several important economic events today, such as the US CPI, initial jobless claims and – more importantly – Bernanke’s speech.
EURUSD
Resistance at 1.2775/00 is still intact after recent test, when a reversal candle was formed
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to hold short while 1.2775/00 is intact, target at 1.2600
EURUSD hourly 11-15-2012
EURJPY
The reversal candle formed near support at 100 is the one I was waiting to see in my previous article. What happened next was an 200+ points rally.
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long, target above 104
EURJPY daily 11-15-2012
AUDJPY
Aussie dollar is another currency to rally against the yen these days and the uptrend continuation was signaled by the highlighted candle below.
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy around 83.50, target at 85
AUDJPY daily 11-15-2012
USDCHF
Dollar pulled back against the Swiss franc but remains above support for now.
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long while above .9400/20, target at .9600+
USDCHF daily 11-15-2012
have a great day!
I see Euro reversing back up at area of pre-ECB chop Sep 6th 2012 (1.2665) – area I am watching is the 50% of the recent high to low swing at 1.2900
The EMA 21 on EURUSD daily chart is where I put my attention right now. I called it the decision making MA. Will the price break it higher? Or will it continue the on-going downtrend.
Hi Liviu
wanted to thank you for your great work, i have been subescribed to this website for more than 5 years now and its amazing i like it more day after day.
anyways i was wondering if you can share your view on golod once in a while
Best Regards
Hi Nader
5 years? Wow. Glad to have you here.
I will definitely consider your suggestion
thanks