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Be Bearish Euro and Australian Dollars on Bounces for Next Week

Friday, 08 June 2012 13:06 GMT

by  Jamie Saettele, CMT, Sr. Technical Strategist

Trades are structured with consideration to current wave structure in risk. For the next few days, I’m likely to be bearish on rallies. The following charts outline short term risk management levels. I favor shorts on rallies in the AUDUSD and AUDJPY into resistance.

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Trades are structured with consideration to current wave structure in risk. For the next few days, I’m likely to be bearish on rallies. The following charts outline risk management levels (red is resistance, blue is support, black in interim levels to consider). I favor shorts on rallies in the AUDUSD and AUDJPY into resistance.

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“THE MARKET(S)” a.k.a. “RISK” SNAPSHOT - 60 Minute Closes

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_all.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

SPX 500 – 60 Minute Bars

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_spx.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

EURUSD – 60 Minute Bars

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_eurusd.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

EURJPY – 60 Minute Bars

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_eurjpy.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

AUDUSD – 60 Minute Bars

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_audusd.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

AUDJPY – 60 Minute Bars

Be_Bearish_Euro_and_Australian_Dollars_on_Bounces_for_Next_Week_body_audjpy.png, Be Bearish Euro and Australian Dollars on Bounces for Next Week

Prepared by Jamie Saettele, CMT

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele

To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com

Jamie is the author of Sentiment in the Forex Market.

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