Good morning. Euro remains under pressure as any recovery attempt is facing selling pressure, so it should be difficult to reach the 1st important resistance level located around $1.240.
EURUSD
The bottom established in 2010 is most likely this decline’s target. There are only a few hundred pips between current trading level and the multi-year low at $1.1870
Market sentiment: intraday – bearish, short-term – bearish
EURUSD 4hrs 7-10-2012
Hourly chart looks even worse. As fast as it keeps getting sold below the 1.24-1.25 zone, I don’t see any reason why bulls would try to catch a falling knife
EURUSD hourly 7-10-2012
USDCHF
USDCHF enjoys euro’s sell-off as it trades in the opposite direction (inverse correlation). Support around .9750 seems stable for now
Market sentiment: intraday – bullish, short-term – bullish
USDCHF 4hrs 7-10-2012
NZDUSD
A few days ago, when .8060 was under pressure, I was rather expecting a breakout above the said level. But the poor NFP numbers killed the risk-on rallies across the board, so NZDUSD became a victim. What’s pretty clear at this moment is that the decline is not over yet.
Market sentiment: intraday – bearish, short-term – bearish
NZDUSD 4hrs 7-10-2012
AUDNZD
Resistance at 1.28 has been breached and it’s probably a good idea to expect the recovery to continue
Market sentiment: intraday – bullish, short-term – bullish
AUDNZD 4hrs 7-10-2012
GBPCHF
A new resistance zone formed by recent top side has been conquered and it should provide support if GBP pulls back against the CHF.
Market sentiment: intraday – bullish, short-term – bullish
GBPCHF daily 7-10-2012
USDCAD
US dollar recovers some of its losses against the Canadian dollar, after a strong decline. Resistance zone around 1.024 is now in focus
Market sentiment: intraday – bullish, short-term – slightly bullish
USDCAD 4hrs 7-10-2012
have a great day!
