Tuesday, 29 November 2011

EUR/USD tests trend line

Hourly chart.

ASX 200 watch that 18 day moving average

With 5 minutes remaining for US trading, after hours trade on the ASX 200 is currently at 4080, up from Monday's ASX close of 4058.

If the market rallies further in coming days then we may see a test of the 18 day moving average. The following chart highlights instances since the April peak where the market has tested the 18 day MA from below and then headed lower.