EUR-GBP-AUD-USDX
The general sentiments for most investors across the board have started the year 2012 in a good footing. With the stock market increasing in Asia particularly in China including Australia's confidence improving nearing its highest levels prompting the Aussie dollar working above the 1.0610 versus the US Dollar. It has kept it pace moving higher alongside with the NZDUSD at 0.8212 after a daily corrective move yesterday. While the USDJPY expecting some reports today has been performing positively nearing its intervention levels and currently at 76.13.
EURGBP CROSS DAILY
With a more positive tone coming from the Euro zone, the EURUSD have made its daily corrective move moving lower for the start of the trading day with a low at 1.3075 and worked its way back higher to the current 1.3160 as of this writing. In turn, the spill over in the EURGBP cross have also been positive maintaing above its weekly Pivotal price level of 0.8330 from the previous daily price break of 0.8290 registered last January 23, 2012. The daily candle formation from therefrom have showed the tug of war and increase volatility reflected with long wicks with an average HI/LO range of 80-100 pips in between trading & daily session where it would easily trigger stoploss amongst day traders if placed on the wrong side of the trade. The EURGBP cross close relation with the GBPUSD intrinsic behavior with this candle formation and steadier prices tend to move higher with daily negative signals. Currently, at the 0.8380 levels still within the rising channel would contiue to be above these levels towards the North American trading session. Likewise, it would maintain prices as long as the Euro moves steady with the GBPUSD making its corrective daily move moving higher behind the EURUSD.
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