Good Morning All
The Intermediate bearish intentions of the Aussie have become clearer. This has been in the making since last week. The high of 1.1010 remains intact and the worse than expected employment figures sent the Aussie towards 1.0535(low of 05 May). If broken this to me will confirm the bearish intent. I am short @ 1.0604.
The Euro has broken through a trend-line on the daily chart, which has been in place since 09 Jan 2011. My take is that it now needs to break 1.4150 to confirm further bearish action. I am thinking I should monitor and act on intraday momentum.
The downtrend on the USDCHF is still firmly intact. On H4 it is moving in a Up-channel towards resistance @ 0.8900. This level was key support not so long ago, so I take it as a big one.
Happy trading.
Cheers.
The Intermediate bearish intentions of the Aussie have become clearer. This has been in the making since last week. The high of 1.1010 remains intact and the worse than expected employment figures sent the Aussie towards 1.0535(low of 05 May). If broken this to me will confirm the bearish intent. I am short @ 1.0604.
The Euro has broken through a trend-line on the daily chart, which has been in place since 09 Jan 2011. My take is that it now needs to break 1.4150 to confirm further bearish action. I am thinking I should monitor and act on intraday momentum.
The downtrend on the USDCHF is still firmly intact. On H4 it is moving in a Up-channel towards resistance @ 0.8900. This level was key support not so long ago, so I take it as a big one.
Happy trading.
Cheers.