Tuesday Charts 7/3/12

We are all inclined to judge ourselves by our ideals; others, by their acts. ~ Harold Nicolson

Good morning. Euro pulled back after last week’s EU Summit rally, so the question now is whether current decline is corrective.

EURUSD

Market sentiment: intraday – bullish, short-term – slightly bearish

EURUSD 4hrs 7-3-2012

EURUSD 4hrs 7-3-2012

hourly:

EURUSD hourly 7-3-2012

EURUSD hourly 7-3-2012

USDCHF

Same picture as above, but reversed. So bears should be happy while USD holds below .9550 and .9590

Market sentiment: intraday – bearish, short-term – neutral

USDCHF 4hrs 7-3-2012

USDCHF 4hrs 7-3-2012

GBPUSD

Not much to do yet as cable is still in consolidation mode above recent barrier. More upside action is likely, as cable is one of the main followers of risk pairs (see below), which are bullish these days

Market sentiment: intraday – bullish, short-term – bullish

GBPUSD 4hrs 7-3-2012

GBPUSD 4hrs 7-3-2012

AUDJPY

Current breakout above 81.30 seems valid and recovery is likely to continue, next resistance being at 82.80/00

Market sentiment: intraday – bullish, short-term – bullish

AUDJPY 4hrs 7-3-2012

AUDJPY 4hrs 7-3-2012

NZDUSD

Resistance at .8060 looks fragile, so buying on a potential breakout is a plan to consider

Market sentiment: intraday – bullish, short-term – bullish

NZDUSD 4hrs 7-3-2012

NZDUSD 4hrs 7-3-2012

AUDUSD

Aussie trades comfortably above 1.0200/20 which was a weak resistance. Next upside barrier is at 1.0440

Market sentiment: intraday – bullish, short-term – bullish

AUDUSD daily 7-3-2012

AUDUSD daily 7-3-2012

have a great day!

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