The Euro commodity crosses are in play. At near term support, I’m looking for a bounce from the nearby levels but into a secondary top before a resumption of weakness later in October. EURCAD resistance begins at 1266
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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
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Prepared by Jamie Saettele, CMT
EURAUD – Daily Bars
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Prepared by Jamie Saettele, CMT
EURNZD – 60 Minute Bars
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Prepared by Jamie Saettele, CMT
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This article (Short Term Bullish Opportunities in Euro against Commodity FX) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.
