Quote of the day:“Strange as it seems, no amount of learning can cure stupidity, and higher education positively fortifies it.” ~ Stephen Vizinczey
Good morning. Risk sensitive currencies such as AUD fell yesterday, following the US equities. The euro held quite well and is still trading above 1.3400 where it found interim support.
EURUSD
Not much to see in this chart right now as the euro is consolidating between 1.3430 and 1.3530. Metals and AUD crosses are more interesting
Euro Vs US Dollar Chart 4hrs 11-18-2011
AUDUSD
As mentioned just two days ago when 50% support was still intact – AUDUSD was, indeed, just lagging behind AUDJPY which already breached below the said support. Next support to watch is around 62% – 100 points below parity.
Australian Dollar Vs US Dollar Chart Daily 11-18-2011
AUDJPY
And here’s the faster “risk oscillator”. As you can see, 62% is already being tested, so don’t expect any sudden reversal on AUDUSD yet
Australian Dollar Vs Japanese Yen Chart Daily 11-18-2011
Silver
Yesterday’s plan to sell on the break lower, below 33, has worked well – as the breakdown was nice & violent, just to remind us about the big decline seen a few weeks ago. Correction to 35.50 (median fib) is now over, so expect more sellers to rush in if price pulls back to test 33 where support resides
Silver Chart Daily 11-18-2011
USDCAD
US Dollar continues to gain momentum against Canadian dollar, climbing above recent top side around 1.0250 which should act as support now. I remain bullish on USDCAD, expecting more upside
US Dollar Vs Canadian Dollar Chart Daily 11-18-2011
S&P500
3 words to describe this: it looks bad.
S&P500 Chart Daily 11-18-2011
have a great day!
Hello Liviu…my name is Loucas and i'm trading currencies more than 4 years..i find your blog suddenly when i search about technical analysis that i wanted to see something and i find your blog.i have to say that you are proffesional and we use the same thoughts and same technics….so keep on on your great job…for now on i will read you every morning with my morning coffe………..have a nice day and many many pips………
thank you loucas and welcome, glad to have you here
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