As we come to the end of another trading week, for the Australian dollar it has been another characterized by negative sentiment with the AUD/USD likely to close with a wide spread down candle, with the bearish tone picking up momentum once again. The move lower for the pair is of no great surprise given the clear and unequivocal messages that have been emanating recently from the RBA, during the
USDJPY showed more momentum as it broke above the descending triangle resistance in today’s Asian trading session.
EURUSD failed to break below 1.3258 support and stayed in the trading range between 1.2358 and 1.2599.
The AUDUSD pair has broken down below the recent low, and looks as if it’s ready to head down to the 0.85 handle.
GBPUSD remains in downtrend from 1.6182, the rise from 1.5590 is likely consolidation of the downtrend.
The EURUSD pair initially fell during the course of the day on Monday, but as you can see bounced enough to break back above the 1.24 handle.
The AUDUSD pair fell hard during the session on Monday, continuing the downtrend that we have seen for some time.
For the USD/JPY, 2014 could best be described in football terms as a game of two halves, when viewed from almost every perspective, and perhaps the most descriptive timeframe to consider is the weekly chart for the pair. And in considering the chart, it also highlights the broader issue from a trading perspective of the need to have an array of trading strategies to take advantage of the prevailing market
GBPUSD remains in downtrend from 1.6182, the rise from 1.5590 is likely consolidation of the downtrend.
EURUSD is facing 1.2358 support, a breakdown below this level will confirm that the downtrend from 1.2867 has resumed,
