Good morning. The euro and other risk-sensitive currencies gained more ground since Tuesday and it’s likely that they would continue on the same path in the coming days.
EURUSD
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy either on break of 1.3150 or on a pullback to 1.3050, target at 1.3250+
EURUSD daily 10-18-2012
EURGBP
Resistance at .8100 was breached and provides short-term support now.
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long, target at .8200+
EURGBP daily 10-18-2012
AUDUSD
Aussie dollar recovered a lot of ground yesterday, so it’s likely that intraday corrections won’t get too far below current trading levels. 1.0330 is the intraday support zone where I think it would find decent bids (see 4hrs chart below)
Market sentiment: intraday – bullish, short-term – neutral
Potential trade strategy: to buy on pullback to 1.0330, target at 1.0500
AUDUSD daily 10-18-2012
4hrs chart:
AUDUSD 4hrs 10-18-2012
EURJPY
EURJPY is yet another pair on the breakout watching.
Market sentiment: intraday – bullish, short-term – neutral
Potential trade strategy: to buy or hold long while it holds above 102.70/00, target at 107 (short-term)
EURJPY daily 10-18-2012
GBPAUD
1.5600 has been breached and it’s likely that decline will continue, as AUD is strengthening across the board. Selling on a weak pullback to 1.5600 is tempting
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to sell on pullback to 1.5600, target at 1.5300
GBPAUD daily 10-18-2012
have a great day
The stock markets in developed countries seem to head for multi-year high this month. With such a build, I agree EUR/USD should perform well.
Friday DOW ans SP were both set back by google's unexpected dispointed Q3, which let the market worried about US economy so strengthening US dollar. In near term, I am neutral. I think EURO will stay in range for a while..
Thursday charts show so many things if you analyze them in details…