Monday, September 9, 2013

10th/SEP/2013 Technical outlook on AUDUSD, EURUSD and GBPUSD

Yesterday I said I expect EURUSD go up to 13250, it did and I closed my long position. EURUSD should consolidate in this area and moved higher. However some pull back should be expected, it won't be a huge pull back, I am ready to long again at 13240 and target 13300

GBPUSD rallied stalled at 15725, the pair is in a bullish mood, UK economy is recovering, Manufacturing and services PMI improved, I think at this point the currency market already priced in that good news, BOE governor don't want to see Pound go much higher I prefer to short at this point, I set up a short entry at 15710, target 15620, stop 15745.

Yesterday I said I would long AUDUSD if the pair can break 0.9225 or short below 0.9150, the pair found resistance at 0.9225, the Aussie couldn't break that level even stock market rallied in U.S session. Aussie tend to perform well in a risk on mood, at this point it is likely the Aussie will see some pull back, I short the pair at 0.9220, target 0.9150 and stop 0.9250

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