Good morning. Euro continues to face some downside pressure as it failed to recover above former support, formed by the trendline connecting recent short-term higher lows on the 4hrs chart (see bel0w). Initial Jobless Claims is today’s most important economic data release.
EURUSD
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: short at current levels while 1.2330/50 is intact, target at 1.2150
AUDUSD
Aussie dollar is still in correction-mode and support at 1.0440/50 is in focus. Uptrend is intact while that support level holds.
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to look for buying opportunities on rally to/above 1.0530
4hrs chart:
AUDJPY
Resistance at 83.20 is now being tested as AUD bounced off support at 82.30/50. Upside remains favored as JPY is losing ground across the board while stocks are trading higher
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long while 82.30/50 is intact, adding on potential break above 83.20/30, target at 84.60-85
AUDCAD
AUD is still in free-fall mode against the Canadian dollar since support at 1.0450 was breached. Next support is seen at 1.0300
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to hold short, target at 1.0300
GBPUSD
Consolidation below resistance continues, so the plan is not change: to buy on the potential breakout above 1.5730/50
Market sentiment: intraday – bullish, short-term – neutral
Potential trade stategy: to buy on breakout above 1.5730/50, target at 1.600
EURJPY
Interim resistance in the 97.60/80 range is being tested and it’s worth keeping an eye on
Market sentiment: intraday – bullish, short-term – bearish
Potential trade stategy: to buy on breakout above 97.60/80, target at 100
S&P500
A test of recent top at 1415 is imminent and all eyes are on this level nowadays.
have a great day!
EURUSD
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: short at current levels while 1.2330/50 is intact, target at 1.2150
AUDUSD
Aussie dollar is still in correction-mode and support at 1.0440/50 is in focus. Uptrend is intact while that support level holds.
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to look for buying opportunities on rally to/above 1.0530
4hrs chart:
AUDJPY
Resistance at 83.20 is now being tested as AUD bounced off support at 82.30/50. Upside remains favored as JPY is losing ground across the board while stocks are trading higher
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long while 82.30/50 is intact, adding on potential break above 83.20/30, target at 84.60-85
AUDCAD
AUD is still in free-fall mode against the Canadian dollar since support at 1.0450 was breached. Next support is seen at 1.0300
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to hold short, target at 1.0300
GBPUSD
Consolidation below resistance continues, so the plan is not change: to buy on the potential breakout above 1.5730/50
Market sentiment: intraday – bullish, short-term – neutral
Potential trade stategy: to buy on breakout above 1.5730/50, target at 1.600
EURJPY
Interim resistance in the 97.60/80 range is being tested and it’s worth keeping an eye on
Market sentiment: intraday – bullish, short-term – bearish
Potential trade stategy: to buy on breakout above 97.60/80, target at 100
S&P500
A test of recent top at 1415 is imminent and all eyes are on this level nowadays.
have a great day!
