Charts to Start the Week 4/2/12

Article originally published on innerfx.com and republished here with permission

It’s not what happens to you that counts, but how you handle it. It’s not how far you fall, but how well you bounce. ~ Dan Zadra

Good morning. Dollar remains under pressure as euro holds above $1.3300 and it seems that a test of $1.3480/00 is in the cards this week.

USD Index

USD Index Daily 4-2-2012

USD Index Daily 4-2-2012

EURUSD

Support is now formed at 1.3300 and next upside barrier is at 1.3480/00 – recent top formed in February. Buying dips or on a break above last week’s top at 1.3380 are two things to consider

EURUSD Chart Daily 4-2-2012

EURUSD Chart Daily 4-2-2012

EURAUD

Euro’s recovery continues and I don’t see any good reason to expect a reversal yet. I remain bullish, looking for a test of 1.300 soon

EURAUD Chart Daily 4-2-2012

EURAUD Chart Daily 4-2-2012

EURNZD

Still in range above recent breakout line, but not performing as good as EURAUD. Momentum is on bulls’ side while above 1.6180/00

EURNZD Chart Daily 4-2-2012

EURNZD Chart Daily 4-2-2012

USDJPY

Although it is still in consolidation range, tests f support at 82 have been short-lived and that suggests that uptrend is still strong, therefore a plan to consider is buying on the break of 83.00/10, hence uptrend continuation

USDJPY Chart Daily 4-2-2012

USDJPY Chart Daily 4-2-2012

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About abwehra group

The Art&Science of Trading Gold
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