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September 23rd 2014. Scalped EURUSD and XAUUSD overnight, quite profitable. Otherwise I am wondering about Kiwi and milk production figures later in the week. Its decline has been quite pronounced and I have an open position slightly out of the money but I could well add to it this week.
NZDUSD – Look for a break and close above last week’s high at 0.8230 at which point I would likely buy more. Alternatively a close below support at 0.8080 only delays outlook.
EURUSD – Realistically weekly and multi-year key support now comes in at 1.2750 and that is well within reach. Any moves lower than that should be temporary (if at all) before we work off these weekly and daily oversold conditions.
USDJPY – Looks like it may be rolling over temporarily. Support comes via the 20 PMA at 1.07. Ultimately any declines are an opportunity to buy this market which has been putting in a series of pennants and bullish engulfing candles all the way higher. Do not get caught short.
AUDNZD – Declines have been a little over done just like NZDUSD and this market is back at levels last seen in July and those levels in the 1.09 now become support as RSI daily studies show oversold conditions. Look for opportunities to buy above 1.0985 for a continuation higher in the coming sessions.
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