The majors moved higher against the dollar on Thursday after the Australian Jobs Report beat expectations but were unable to break current ranges.  Most of the majors have traded in a narrow range heading into the end of the week.  It will be interesting to see if this continues on Friday.  All eyes will be on the IMF Meeting in Tokyo overnight for any news that could shack the markets.  Traders will be watching the NZDUSD which is currently in a triangle for a break one way or the other.  As always keep your trades KEANE and play it safe.

 

 EURUSD PLAYING THE RANGE TOP

The EURUSD moved higher today to test the top of it’s range at 1.2950.  The pair could not muster the strength to break above.  A hold at this level heading into the end of the week could send the pair lower with risk.  Support begins with the weekly low at 1.2835 followed by the 200 day MVA at 1.2820.  It would take a push below these levels to test the lows from the last few weeks at 1.28.  So you can see that support is stacked between 1.2835/00, but a break would expose September’s Fibs.  Starting with the .382 fib at 1.2734. 

Sup    1.2835/00          .382 Fib 1.2724           .50 fib 1.2602

Res   1.2950

Keane Plan….Watching price action near the top of the range at 1.2950

GBPUSD IN A TIGHT RANGE

There is not much to say about this pair at the moment.  The cross seems very comfortable drifting in its range between 1.6050 and 1.60.  It will take a break of this range to restart the engine. A solid break of 1.60 exposes the .50 fib from September's Advance at 1/5903.  A bounce runs into resistance relatively quickly at the yearly descending trend line at 1.6080.

Sup             1.60

Res             1.6050

Keane Plan…Looking for a break of the range.

AUDUSD JOBS SURPRISE

The AUDUSD employment report beat expectations in early Asian trading Thursday.  This helped push the AUDUSD to the top of it’s current range at 1.0270.  Heading into the finial trading day of the week a break above Thursdays high at 1.0290 would favor a continued move higher.  If the pair continues to consolidate bellow 1.0270 a push back towards mid-range could be in the cards.

Sup   1.0175/50

Res   1.0270/90

Keane Plan….Watching price action around 1.0270….

NZDUSD IN A TRIANGLE

The NZDUSD appears to be in the mist of a triangle on the 1Hr chart.  A break of hold of this triangle could set the trajectory of the pair into the end of the week.  The top of the triangle is at .8188 and the bottom is down around .8160.  A break below the triangle exposes trend line support at .8115.  A push above the top of the triangle runs into resistance at the weekly high at .8235.

Sup    .8160                  .8115

Res   .8188                   .8235

Keane Plan…Watching the triangle for a break above or below.

USDJPY WEDGED IN A WEDGE

Move on there is nothing to see here.  This pair has been trading slow even for the USDJPY.  The cross is in a wedge and until it breaks above either the top or the bottom consolidation is the game.  The inside can be played if you have the patience for it.

Sup   77.50

Res   78.75

Keane Plan…Waiting for a break of the wedge.

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