Thursday, 12 September 2013

ASX 200 showing false upwards break from ending diagonal, plus possible double top

The ASX 200 daily chart includes after hours trade and shows a false upwards break from an ending diagonal. Also of note, the cash market double topped today on an intraday basis. Or more correctly, it set up a possible double top, which would be completed by a move below the June low.

EUR/USD turns lower at Fibo 0.618 retracement of mid August to early September decline

4 hour chart illustrates that EUR/USD turned lower at the Fibo 0.618 retracement of the decline from mid August to early September.

Zooming out to the daily, I'm still working that slightly warped bearish Head and Shoulders top.

AUD/USD showing false upwards break from trend channel

AUD/USD is a showing false upwards break from the illustrated trend channel, in addition to a false break above the July and late June highs. Today's high is key. 

Gold breaks lower through trend line drawn from June and August lows

Daily chart

Weekly chart