eurusd update 30 minute data showing the downtrend from 3rd april.this trend took all the stock markets down with it...a stronger dollar now..we have the beginnings of a new uptrend..no real confirmation as yet weaker dollar=stronger stocks 6 pips by 1 hilo plot
so what shall we look for in this possible new trend ?? we change the chart to the close plot and we see a cluster of trendlines showing resistance.this is at the 1.3120 area which got tested on nfp..price then fell back.so there we have our potential area major res to this new trend.supports will be minor as it is a brand new trend.they can be picked off using 45 degree or subjective trendlines price actually did settle at 3088,which was a 50% low pole area .i will show that chart aswell
dollar watching aussie dollar has much more defined trends so,there is a potential reversal happening...but there is a stack of resistance overhead res area is 1.03640-1.0450 area..trendline cluster audusd ..daily data 35 pips by 1 reversal
ok...so we saw 1370 area be a pretty good supp area,except on monday when it overshot.but market flattened and rallied from that area.the friday close was 1370..bang on monday open and next week..if Spain troubles persist,then we look to next supp area at 1353. to 1360 .if its really bad news then this wont hold 2 hour data box size is 11 by 1 reversal there is res at 1385 area/downtrend line..so that needs to be watched..if it gets near
just remember that the s&p 500 at this point in time is a fake the latest breakout on this chart has not been supported as yet if it retraces then 1320 area is the 50% zone daily data10 points by 3 reversal
a big week comin up for the dollar audusd daily data.a big res area that should get tested rba rate decision and monetary policy this week non farm payrolls and adp employment data 1.0500 area to watch audusd shows a decent trend..eur and cable are messy charts.imho should set the tone for dollar crosses
keep an eye on the blue trendline s&p 500 index 5 minute data the uptrend started last monday 23 april 2 pts box size by 1 reversal support for this minor trend is 1388-1390 area