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Audusd has been very bullish. The most recent leg of the bullish leg sees it testing resistance at .8750. Traders considering shorts on this currency pair should proceed with caution. In reference to the monthly chart below, the strong bullish momentum could take it further up for a retest of the June high at the .8870 level. Having said this, I am also looking for a trading opportunity on this pair, and since it is now testing resistance, the logical trade setup to be looking for is a sell. However, I am standing aside for a possible continuation in the rally to the area specified. At the same time, I will be watching for reversal signals on the smaller timeframes. My advice regarding trading this is to wait for proper confirmation before ...

Forex Trades 07/08 - US session
[b][img]http://www.mataf.net/images/_V3img/fleches/down_arrow_16.png[/img] [url="http://www.mataf.net/en/forex/eurusd"]EUR/USD - Euro / US Dollar[/url][/b]
[b]Entry[/b]: 1.2655
[b]Stop[/b]: 1.2675
[b]Resistances[/b]: 1.293 - 1.28 - 1.2695
[b]Supports[/b]: 1.2485 - 1.2555 - 1.262

[b][img]http://www.mataf.net/images/_V3img/fleches/down_arrow_16.png[/img] [url="http://www.mataf.net/en/forex/usdjpy"]USD/JPY - US Dollar / Yen[/url][/b]
[b]Entry[/b]: 88.05
[b]Stop[/b]: 88.4
[b]Resistances[/b]: 89.2 - 88.8 - 88.5
[b]Supports[/b]: 87 - 87.4 - 88

[b][img]http://www.mataf.net/images/_V3img/fleches/down_arrow_16.png[/img] [url="http://www.mataf.net/en/forex/eurjpy"]EUR/JPY ...

[B]Important job figures showed another improvement in Australian employment. This pushed the recovering pair above technical barriers on its way up. Update on this strong currency.[/B]

Australian employment change showed a gain of 45,900 jobs in June. This was triple the early expectations that stood on a modest gain of 15,000. It’s important to note that last month’s figure was revised to the downside – from 26,900 to 22,800, but this doesn’t undermine the great gain in jobs. Also the complementary figure was excellent:

Read the rest of the article about the [URL="http://www.forexcrunch.com/aussie-leaving-dust-behind-it-on-jobs-data/"][I][B]Australian employment data[/B][/I][/URL].

[B]US [/B][B]Unemployment Claims[/B][B]decrease[/B][B], [/B][B]Britain[/B][B], Manufacturing Production [/B][B]expecting a rise and the [/B][B]Australian Employment Change and Unemployment Rate are changing. [/B][B]Here is an outlook on today’s events.[/B]

In the US, Unemployment Claims, weekly report that measure the number of individuals who filed for unemployment insurance for the first time during the past week; droops down to 461K from 472K and affects the labor-market conditions;

Later in the US, Crude Oil Inventories a weekly US indicator that affects the loonie due to Canada’s sizable energy sector; and measures the change in the number of oil barrels held in inventory. It influences the price ...