Candlestick Daily: New USD/CAD and AUD/USD Buy Trades

January 17, 2012 by stanh
Filed under FX News

CURRENCY	CURRENT BIAS	POTENTIAL STRATEGY
EUR/USD (Short Term)		Short squeeze emerges overnight, with room up to key near-term resistance at 1.2860
GBP/USD (Short Term)		Broke above 2-week bearish trend line, now struggling with 1.5400 resistance. See full report for more details
USD/JPY (Short Term)		Bouncing off 76.60 support, but resistance anticipated at 77.00. See full report for more details
USD/CHF (Short Term)		Dropping sharply overnight, opening the door for further weakness toward .9400. See full report for more details.
USD/CAD (Short Term)		Buy if USD/CAD breaks above 1.0150, stop at 1.0109, target at 1.0197. See full report for more details
AUD/USD (Short Term)		Buy if AUD/USD breaks above 1.0453, stop at 1.0397, targeting 1.0497. See full report for more details
NZD/USD (Short Term)		Rates currently consolidating around key .8000 level, break above this morning’s high to signal potential rally up to .8100.