Thursday, 24 January 2013

Gold testing short term up trend line within bull flag

Daily chart. Watch the shorter term charts to get a handle on whether the market decides to resolve this trend line test upwards or downwards. 

AUD/USD building toward possible break of 1.06

Weekly chart shows that the AUD/USD has left the triangle behind, but is yet to accelerate higher, which would be typical behaviour following a triangle.

Daily chart shows resistance from recent highs between 1.0600 and 1.0625, which the market needs to beat before any acceleration higher is possible.