Tuesday, 7 May 2013

AUD/USD slices through trend line support, now testing possible support at bottom of trading range

Daily chart shows the AUD/USD slicing through trend line support and now testing the support zone at the bottom of the trading range that began some ten months ago.


Zooming out to the weekly chart shows a bearish moving average cross. So a move below the daily chart range would have the wind at its back, in the form of the weekly chart trend.


GBP/USD rolling over lower from resistance at multiple trend lines and 50 Fib


EUR/USD building a Head and Shoulders top over past nine months?


Gold breaks lower from trend channel drawn from April low, Silver testing its equivalent

Hourly charts.

Gold


Silver