Thursday, 21 April 2011

EUR/USD weekly

Trend is up, however be aware of potential to bounce down from top of corrective trend channel. Trend lines of that same angle have appeared many times in the past, so the angle is of some significance, just one example (not shown) is the trend line joining the lows of 1985 and 1991.

Gold monthly

Strong up trend. Possible trend line resistance around 1540, and then 1600.

S&P 500 monthly

Trend is up. Possible head and shoulders trend line resistance between 1360 and 1400.

AUD/USD hourly

Up trend from the March lows.