Quick Review & Forecast of Major Pairs: USD/CAD, GBP/USD, USD/JPY, AUD/USD August 1st, 2013

Hello Traders,

a quick review of some majors ahead of tomorrow numbers…. (for EUR/USD, please read todays the full report):

USD/CAD

Next levels of resistance 1.0340 (price at it right now) and 1.0420 area.

GBP/USD

The support area starting at 1.5125 was tested twice and it is not holding at the second test. Below 1.5049, the 1.4850 is possible

USD/JPY

Support at 97.70 is currently holding with price right at the resistance area starting at 99.50. Above 100.05 the 103.30 target level is confirmed and price could move there according to our model of Program Trading on Japanese Yen.

AUD/USD

The pair continued lower as anticipated into the indicated area at 0.8910 and could continue lower into 0.8850. Once price gets there, our model shows two potential scenarios. A move higher as indicated in the last review (see above link) or further weakness and a continuation lower into the 0.8595 area before a potential bounce

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Have a good day

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