Thursday, 16 June 2011

Silver In Corrective Trend Channel

Against the backdrop of the bearish big picture for Silver, the hourly candlestick chart shows it to be trading within a corrective trend channel. A break through the lower trend line of that channel would raise the odds for a resumption of the larger degree down trend.

EUR/USD Head And Shoulders Top In Play

I'm almost tempted to check the news right now to find out what the top rationalisation is for the EUR/USD's strong move lower. So far I have only looked at the charts. After brekkie I'll head on over to macrobusiness. As discussed earlier, the initial target is 1.39.

AUD/USD Bounces Lower From Trend Line Test

The potential for the bullish breakout discussed previously has decreased, with a test of the top of the previous trading range once more looking likely.