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Short Term Bullish Opportunities in Euro against Commodity FX

Short Term Bullish Opportunities in Euro against Commodity FX

Jamie Saettele, CMT, Sr. Technical Strategist

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Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

The AUDUSD and NZDUSD are pressing against resistance in early US trade. As focused on last night, a downside NZDUSD bias is warranted against 8238.

With the EURUSD holding 12802, I’d rather play commodity FX weakness against the Euro. At near term support, I’m looking for a bounce from current levels into a secondary top before weakness resumes later in October. EURCAD resistance is centered on 12647/84. EURAUD resistance is probably strongest at 12700/21. EURNZD resistance is 15831/65.

EURCAD – Daily Bars

Short_Term_Bullish_Opportunities_in_Euro_against_Commodity_FX__body_eurcad.png, Short Term Bullish Opportunities in Euro against Commodity FX

Prepared by Jamie Saettele, CMT

EURAUD – Daily Bars

Short_Term_Bullish_Opportunities_in_Euro_against_Commodity_FX__body_euraud.png, Short Term Bullish Opportunities in Euro against Commodity FX

Prepared by Jamie Saettele, CMT

EURNZD – 60 Minute Bars

Short_Term_Bullish_Opportunities_in_Euro_against_Commodity_FX__body_eurnzd.png, Short Term Bullish Opportunities in Euro against Commodity FX

Prepared by Jamie Saettele, CMT

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

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Jamie is the author of Sentiment in the Forex Market.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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