Midweek Chart to Watch

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

Good morning. It’s pretty obvious that Hurricane Sandy has an impact on the currency markets, especially due to NY Stock Exchange being closed for two days. Let’s see what are some of today’s interesting charts

EURUSD

The euro found some bids at $1.29 upward trendline and managed to climb above the downward trendline which is connecting recent lower highs. It looks slightly bullish for now and there’s a good chance that other risk sensitive pairs are going to push the EURUSD higher

Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to buy around 1.2960, target at 1.3060

EURUSD 4hrs 10-31-2012

EURUSD 4hrs 10-31-2012

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About abwehra group

The Art&Science of Trading Gold
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