Good morning. Euro looks a bit heavy but still holds around $1.2900 ahead of ECB’s Draghi speech later today. Other risk-sensitive pairs, such as AUDJPY, are trading in a narrow range – being slightly bearish on intra-day basis at time of writing.
EURUSD
I think that a stronger support is formed between the two fib lines (1.2750 to 1.2830), hence a potential buy zone
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to buy dips at 1.2850, target at 1.30
EURUSD chart 4hrs 9-25-2012
GBPAUD
Pair is moving slowly in a tight range, but a breakout seems likely
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on break of 1.5600, target at 1.5900
GBPAUD chart daily 9-25-2012
AUDJPY
Support formed by the trendline is still intact, but seems fragile
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to sell on break below 81, target at 80
AUDJPY chart 4hrs 9-25-2012
USDCAD
Selling on rally to .9840 is the main plan I’m currently considering
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to sell at .9840/50, target at .9700
USDCAD chart 4hrs 9-25-2012
NZDUSD
NZDUSD is trapped into a 50-pip support layer between .8190 and .8240. A potential decline in AUDJPY would result in NZDUSD breaking below this support layer, therefore I’m looking for a potential sell opportunity. On a short-term basis, I remain bullish on NZDUSD
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to sell on the potential break of .8190, stop above .8240, target at .8000
NZDUSD chart 4hrs 9-25-2012
have a great day!
