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Todays analysis 4/4/2012 (London Session)
EUR/USD (Look for Sells):
On the H4 we can clearly see there has been a run of higher lows and higher highs being broken meaning the markets are looking bullish, However the downwards move HAS broken the last key low suggetsing a bearish move.. Over onto the M15 charts, we can see the rate is clearly bearish and has been for several hours. With yesterdays low being broken, and the markets looking bearish on both the M15 and H4 charts, today is a good day to be selling the Euro!!! Just be careful of the ECD interest rate announcement at 11:45am! This could have an effect on the rate.
USD/CHF (Look for Buys):
While the trend is down overall on the H4, the previous key high (0.91390) has been broken. The M15 charts confirm this and the market is certainly looking Bullish for the swiss!
Ok, on the GBP H4 we can see the trend is up (Bullish) with consistent higher lows and higher highs.... BUT watch out for the previous low at 1.58418. If the rate breaks down past this level, we could be looking at a bearish market. To confirm this we go over to the m15 chart and can instantly see a bearish market - although be aware there is a range that has been going on over the past couple of hours. Wait this one out would be my advise... i'd be looking to sell if the rate drops below 1.58418.
USD/CAD (AVOID until 0.099916 is hit):
Well at first glance the H4 charts do look messy for the Canadians, it dook look rangy but over all we can see lower lows and lower highs suggesting a bearish market. The m15 does not confirm this though , as you will see, the M15 is actually as bullish as it gets. Personally I will be avoiding trades on this pair UNLESS it breaks the previous key high of 0.99916 meaning both charts are bullish, at which point I will look for Long opportunities (buys).
BEAUTIFUL price profiling on the H4 - a perfect selling environment. Consistent lower key highs and lows - you will see the rate retraces, drops, retraces, drops... over to the m15, we can see a perfect bearish trend that confirms what we see on the h4 charts. Its a sellers market for the Oz today and it doesnt get much clearer! Look to SELL the AUD. Personally ill be waiting for the retracement and then selling off the next drop (if it happens of course).
PICK OF THE DAY:
AUD/USD - Bearish: With such a beautiful price profile on the Oz, this is without doubt my pick of the day. My call is SELL!