Thursday, 28 July 2011

EUR/USD and GBP/USD trend line breaks

ASX SPI 200 sharply lower

The ASX SPI 200 followed the US markets sharply lower last night (Oz time)...

Daily candlestick chart. The 4, 18, and 40 day moving averages have all crossed at the same point. It is worth watching for an especially strong trend to develop following such a crossover... I have seen it many times, on many markets, at many time frames. Point to note, it could go either way.

EUR/USD wedgied

Hourly chart. A move below the lower trend line would confirm and complete the wedge, and indicate a target of just above 1.38, back where the wedge started.

Silver throwover?


Daily candlestick chart.