EURUSD Testing 1.400, Risk-On Again

Article originally published on innerfx.com and republished here with permission

Quote of the day: “Insanity in individuals is something rare – but in groups, parties, nations and epochs, it is the rule.” ~ Friedrich Nietzsche

Good morning. The dollar continues to weaken as EUR recovers on news coming from Brussels: EU setting 50% Greek bond writedown, 1 trillion euros in EFSF fund. Let’s see what are some of today’s charts of interest, now that everyone jumped back on the risk-on train:

USD Index

support is being breached and the ugly turns uglier

USD Index Chart Daily 10-27-2011USD Index Chart Daily 10-27-2011

EURUSD

1.400 is under pressure and it seems that a break is imminent.

Euro Vs US Dollar Chart Daily 10-27-2011Euro Vs US Dollar Chart Daily 10-27-2011

AUDUSD

Support at 1.0350 held and it was a good level to buy the Aussie when the markets resumed uptrend on news from Brussels. 1.0750 is where next important resistance is seen

Australian Dollar Vs US Dollar Chart 4hrs 10-27-2011Australian Dollar Vs US Dollar Chart 4hrs 10-27-2011

AUDJPY

Quite a clear buying signal here, as the previous daily candle suggests more gains / uptrend resumption. When I will continue the discussion on the Breakout Trading topic, remind me of this setup – it is actually one of my favourites.

Australian Dollar Vs Japanese Yen Chart Daily 10-27-2011Australian Dollar Vs Japanese Yen Chart Daily 10-27-2011

USDCAD

Last bounce off support @parity was short-lived and the US dollar resumed the decline. It shouldn’t be hard to reach .9800 once parity is clearly breached

US Dollar vs Canadian Dollar Chart Daily 10-27-2011US Dollar vs Canadian Dollar Chart Daily 10-27-2011

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About abwehra group

The Art&Science of Trading Gold
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