Thursday Charts

Good morning. The euro continues to decline as there are fears of Cyprus contagion and it’s quite obvious that the decline is far from over. Today’s important events in the FX calendar is the Initial Jobless Claims and GDP

EURUSD

Downtrend remains strong and all pullbacks are providing good selling opportunities. As a small update to my previous post, the EUR went down as expected and I remain quite confident that selling into rallies is the best thing to do.

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2850, stop above 1.2910, target at 1.2750 or lower

EURUSD 4hrs 3-28-2013

EURUSD 4hrs 3-28-2013

GBPUSD

I was wrong expecting the recovery to continue without getting much lower below 1.52. Well, it’s the EURUSD to blame for other currencies weakness against the USD nowadays. Current 4hrs chart suggests that decline is likely to continue

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on break below 1.5100, target at 1.4900

GBPUSD 4hrs 3-28-2013

GBPUSD 4hrs 3-28-2013

AUDNZD

Aussie’s pullback continues at a slow pace, but its getting closer to 1.24 which is the bearish target I suggested. Not much to do until then, but hold short or sell into rallies

AUDNZD 4hrs 3-28-2013

AUDNZD 4hrs 3-28-2013

AUDUSD

AUDUSD is another pair affected by euro’s weakness across the board which turned into massive USD buying. Is it time for a pullback toward 1.03 region?

Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to sell around 1.0450, stop above 1.0500, target at and below 1.0330

AUDUSD 4hrs 3-28-2013

AUDUSD 4hrs 3-28-2013

have a good day and good luck

3 thoughts on “Thursday Charts

  1. Pingback: Tuesday Charts

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