Good morning. The dollar keeps rising against some of its counter parts like EUR and GBP, and there’s a good chance that it will continue to post gains. Here’s an update to the charts posted yesterday
EURUSD
61.8% fib support was breached and minor rallies toward $1.31 will provide more selling opportunities
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell at 1.3100, stop above 1.3160, target at 1.2900
AUDUSD
Resistance around .9350 is in focus and the recovery seems corrective so far, hence a selling opportunity – while being ready to close or reverse in case of a strong breakout above .9350
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell around .9350, target at .9200, stop above .9420
EURCAD
Support trendline was breached and the decline is quite strong. A pullback to 1.3680 should provide yet another selling opportunity
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to hold short, eventually sell more on pullback to 1.3680, target at 1.35 and maybe below
USDJPY
Dollar is flirting with resistance around 98.30 and a breakout is in the cards
Market sentiment: intraday – bullish, short-term – mixed
Potential trade strategy: to buy on break of 98.25/50, stop below 97.50, target at 100
have a good day