Thursday, 18 August 2011

Aussie dollar and ASX SPI 200 turn down at resistance

24 hours ago I suggested that these markets had hit resistance, and that it was time to be watchful for a turn lower. It now appears as though the turn is underway.

Daily charts shown in both cases.


ASX SPI 200...

Nikkei 225 trend line break

Hourly chart. As I've said previously, view this in the context of a potential Head and Shoulders top nearing completion on the weekly chart.

EUR/USD triangle

Daily chart.

Nikkei 225 hourly chart worth watching

Below is the hourly chart. View it in the context of a possible Head and Shoulders top forming on the weekly chart

Aussie dollar and ASX SPI 200 hourly charts

As per the daily charts posted 11 hours ago, these markets are testing resistance. Below are the current hourly charts.


ASX SPI 200...