Tuesday Charts

Good morning. Dollar remains strong across the board and more gains are in the cards. The setups posted last week were quite good to grab some pips.

EURUSD

Euro remains under pressure and it seems that there’s a good chance to see a test of the trendline highlighted in the daily chart below.

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to hold short @1.3100 with stop above 1.3160+, target at 1.2900.

EURUSD daily 7-2-2013

EURUSD daily 7-2-2013

USDJPY

The breakout above 98.30 was a nice opportunity to buy the dollar, targeting 100 in the 1st phase – which wasn’t reached yet, but I think it’s only a matter of hours until the dollar trade above 100

Market sentiment: intraday – bullish, short-term – mixed
Potential trade strategy: to buy dips on pullback to 99.00, stop below 98.00, short term target at 103

USDJPY 4hrs 7-2-2013

USDJPY 4hrs 7-2-2013

AUDUSD

Selling around .9350 resistance was a good plan, and there is no good reason to switch side yet, so I think it’s best to continue selling into rallies.

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell around .9300, stop above .9360, target at .9100

AUDUSD 4hrs 7-2-2013

AUDUSD 4hrs 7-2-2013

EURCAD

Trendline is still intact, providing resistance, but I was expecting some major selling when it was reached. And there wasn’t any, as EUR holds onto gains. Maybe it’s one of those moments when patience is golden

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to stand aside and consider selling into the 1.3650 area in case of decline, target at 1.3500 – maybe lower

EURCAD 4hrs 7-2-2013

EURCAD 4hrs 7-2-2013

have a good day!

One thought on “Tuesday Charts

  1. Pingback: Monday Charts | innerfx.com

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