TrendLines/EMA Crosses/Fibs

Discussion in 'Forex' started by DannyBly1, May 19, 2008.

  1. Watching for major levels and EMA cross signals on the daily chart -

    GBP/USD has formed a triple bottom forming support at 1.9353. Expecting resistance at 1.9754 at the 38% retracement level also coinciding with the down trendline. Several important releases for this pair in the coming week including UK retail sales and first quarter GDP. BOE left rates unchanged at 5% despite a weakening labor market - their hawkish stance maintained to combat inflation.


    USD/CHF The monster fib level at 1.06162 has been respected so far. I'm expecting follow through if this level can be violated. Support lies off the trendline below at 1.02993.


    NZD/USD looks as though it may give a strong bearish signal imminently with a death cross threatening to form.


    Fairly quiet week for US economic releases - PPI, existing home sales, initial claims.

    AUD/USD we are seeing the pressure building up in the upward sloping ascending triangle. The recent strength is correlated with the large spike in gold prices last week.