Monday, 11 July 2011

EUR/USD Trend Line Break On Daily Chart

USD Opens The Week Higher

EUR/USD, AUD/USD, and GBP/USD have opened the week below their Friday closes. Here are updated hourly charts, all for the period following the late April / early May peaks.

EUR/USD. Remember the daily chart context, where the 18 and 40 day moving averages recently crossed bearishly.

AUD/USD. Possible double top formed by the twin July peaks. A move below 1.065 would confirm.

GBP/USD. Remember the daily chart context, where a Head and Shoulders top has completed and the trend is down.