Some Quiet Tuesday Charts

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

In these matters the only certainty is that nothing is certain. ~ Pliny the Elder

Good morning. Not much happened since yesterday, hence the trading ranges remain narrow. The dollar index holds onto gains above support formed by recent top, while the euro continues to hover around $1.300 in sideways trade.

USD Index

No change of sentiment – dips will likely continue to be bought

USD Index Chart Daily 12-20-2011USD Index Chart Daily 12-20-2011

EURUSD

While it holds into this narrow range, it’s a good idea to look for opportunities in other pairs. Anyway, if it exists the range to the upside, expect new rounds of selling within the 1.3150-1.3200 region

Euro Vs US Dollar Chart Hourly 12-20-2011Euro Vs US Dollar Chart Hourly 12-20-2011

GBPAUD

I remain bullish on GBPAUD, expecting a breakout in the next sessions. Buying on strength above 1.5650 is a plan to consider

British Pound Vs Australian Dollar Chart 4hrs 12-20-2011British Pound Vs Australian Dollar Chart 4hrs 12-20-2011

USDCAD

still holds below 1.0400 trapped in a range. Short-term momentum remains bullish as long as there is enough buying power in the 1.0250-1.0300 range. Buying on the potential break of resistance at 1.0400 still seems a reasonable plan

US Dollar vs Canadian Dollar Chart 4hrs 12-20-2011US Dollar vs Canadian Dollar Chart 4hrs 12-20-2011

AUDJPY

Selling on the break of 78 a few days ago was a good idea and the same plan to sell below a round number – 77 this time – is a plan to have in mind… just in case downtrend continues.

Australian Dollar Vs Japanese Yen Chart Daily 12-20-2011Australian Dollar Vs Japanese Yen Chart Daily 12-20-2011

AUDNZD

Although support at 1.3050/60 holds but the recovery is not too strong, it’s still a good idea to look for a short opportunity on the potential break of 1.3050

Australian Dollar vs New Zealand Dollar Chart Daily 12-20-2011Australian Dollar vs New Zealand Dollar Chart Daily 12-20-2011

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About abwehra group

The Art&Science of Trading Gold
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