Thursday Charts

Good morning. EUR continues to lose ground against the dollar and looks quite fragile ahead of today’s ECB decision. Other important events today: US Trade Balance, Initial Jobless Claims and BoE’s Interest Rate Decision.

EURUSD

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell into rally in the 1.3070-1.3100 area, stop above 1.3150, target below 1.2950

EURUSD 4hrs 3-7-2013

EURUSD 4hrs 3-7-2013

 

EURJPY

Current recovery seems corrective and there’s a good change of another round of selling in the 123-124 area

Market sentiment: intraday – bullish, short-term – slightly bearish
Potential trade strategy: to sell around 123.30, stop above 124, target at 120

EURJPY 4hrs 3-7-2013

EURJPY 4hrs 3-7-2013

AUDNZD

Resistance at 1.2400 is still in focus after the failed attempt a few days ago. A potential breakout would be a good opportunity to buy the AUD with a target at 1.25-1.26

Market sentiment: intraday – bullish, short-term – slightly bullish
Potential trade strategy: to buy on break of 1.2400, target at 1.2550

AUDNZD 4hrs 3-7-2013

AUDNZD 4hrs 3-7-2013

have a great day

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