EUR/USD
The
EUR/USD went back and forth during the course of the day on
Wednesday. With that being the case, we believe that the 1.15 level
above is massively resistive, and we are looking for resistive
candles in order to sell. As of now we have no interest in buying, as
the market is so bearish, and we do recognize that the market
probably needs to reach down towards the 1.10 level, which is the
next large, round, psychologically significant number . It is also a
massively supportive level on the longer-term charts, so we feel the
market will test it.
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| EUR/USD Signal |
AUD/USD
The
AUD/USD continues to hang about the 0.80 level, as the market
suggests that the Australian dollar will more than likely continue to
soften. With that, we feel that the market can be sold on resistive
candles, as there is quite a bit of noise between here and the 0.83
level. On top of that, the gold markets going higher hasn’t even
helped the Australian dollar, so therefore it’s very difficult to
have any faith in the Aussie at this point of time. With that, we are
looking for rallies that show signs of weakness in order to sell.
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| AUD/USD Signal |
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