USD strengthened throughout the day, but eventually weakened after a strong upward movement. EUR/USD found support at 1.32 and climbed firmly up to 1.3350. Its behavior can indicate that even more upward movement is yet to come, and we can expect some attempts at breaking above the 1.34 major resistance. GBP/USD is continuing to climb. The next resistance is at the 1.5720 area. AUD/USD, NZD/USD, and USD/CAD are strengthening as well, and reaching close to their trigger points -1.02, 0.8115, and 1.0280 respectively. GOLD broke about the 1350 resistance. I believe it can even continue to climb, but remember, the overall trend is downward. A true super major resistance lies at the 1460 area, and I would definitely start selling at this area.
Posted on: Fri, 16 Aug 2013 08:19:25 +0000
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