EURUSD
RTAS Order Book systems currently long the pair but only just, and today’s creep higher, as Retail Traders continued to sell any signs of strength, helped the systems.
Realistically we don’t see this pair pushing a lot higher from these levels and suspect it will be capped by the 1.3350 / 1.3330 levels.
The daily chart is still showing relative support in this pair, key 1.3353 pivot could be in focus soon. We suspect any strength could offer good selling opportunities although it is key to wait for confirmation.
GBPUSD
RTAS Order Book systems are still holding long this pair from the 1.5180 mark, however this pair has really struggled today and Order Book systems are likely to enter short overnight as they are right on the edge of switching; any minor buying by Retail Traders in the pair will cause the flip.
The inability for this pair to really push past the 1.5400 mark is rather telling and we could see this pair now push back to recent lows around the 1.4900 mark. Carney could be a catalyst for this tomorrow or, if he turns out to be more Hawkish, we could see this pair put in a final push to the 200 day SMA before a move lower but currently we do prefer the idea of shorts.
AUDUSD
RTAS Order Book system remains long on AUDUSD from 0.8910 as the pair has continued to find Retail Sellers. If we continue to find more sellers we could see this pair push back towards the 0.9100 level, however for the moment the pair continues to struggle to break the 0.9000 mark.
This pair has found some interim support around the 0.8900 level. Although we maintain the outlook that this pair is carving out a bottom, we still suspect further chop and could easily see a push lower.
USDCHF
Order Book systems holding short this pair, although now have reverted to extreme levels we could see the turn in this pair and the system start to look for long trades. Strong support comes in below around the 0.9215 level, if this breaks we could see a final test of the 0.9150, if it holds we suspect we could start to see the reversal around these levels.
Daily chart looking relatively supported but on a relative knife edge, Bernanke’s comments could be key tomorrow. Overall we generally prefer longs from these levels but would like to see confirmation.
EURAUD
The RTAS Order Book system closed longs in this pair and switched to shorts today at the 1.4810 mark. The extremes in the Order Book mean there is little room for pushes higher without some form of correctional move after each one; although we are looking for a more general turn in this pair to align with EURUSD weakness and an AUDUSD correctional bounce, we could still see further chop higher before this occurs.
Further resistance on the daily chart at the nice round 1.5000 figure, we also have the most extreme RSI divergence we have seen in a long time, typically this would point to further shorts but we really need to start seeing the turn in both EURUSD and AUDUSD for this to gain some traction for a move lower.
