EUR/USD
The
EURUSD initially fell during the session on yesterday, but then went
higher later in the day in order to challenge the 1.0950 region. The
1.10 level is resistance and in the past it was both resistance and
support. Because of this, we are looking for some type of resistive
candle in that general vicinity so that we can start selling as we
expect a long-term downtrend. As of now, we are on the sidelines but
it is marketplace that should offer opportunities soon.
GBP/USD
The
GBPUSD initially fell during the course of the session on yesterday,
but found enough support at the 1.48 level to turn things back around
and form a hammer. Because of this, looks like the British pound will
test the 1.50 level, but that could be a bit of resistance area.
Market looks as if it is going to try to break out to the upside, but
there is still a significant cluster of resistance all the way to the
1.52 level. If it breaks 1.48 level then we can expect bearish
pressure in the market till 1.45 level. On the other hand, if we
break above the 1.52b level then we may head to the 1.55 level next.
AUD/USD
The
AUDUSD initially fell during the session on yesterday, but turned
back around and went much higher. However, we feel there is much of
resistance at least to the 0.80 level. Because of this, we are not
willing to buy this market and we are waiting to see if we can get
some type of sell signal in order to continue the longer-term trend
to the downside and aim for the 0.76 level next.
USD/JPY
The USDJPY went back
and forth during the course of the session on yesterday, as the 120
level offered resistance. However, we believe that this market will
find enough buyers to push this particular market higher, and with
this if we can break above the top of the range for the Monday
session we are buyers. We feel that it can go up till 122 level and
then to the 125 level. We do not see longer term selling
opportunities as US dollar is the favored currency in the world right
now although we also recognize that it has started to pull back a
little bit.
NZD/USD
The
NZDUSD broke higher during the session on yesterday, clearing the
0.78 level. However, we see that there is a significant amount of
resistance at the 0.77 level, so we are not willing to start buying.
The Royal Bank of New Zealand needs to see the New Zealand dollar
lose value going forward. In the meantime, we will sit on the
sidelines as we are waiting for some type of clear signal in order to
place any type of trade.
