Charts to End the Week 4/27/12

We don’t see things as they are, we see them as we are. ~¬†Anais Nin

Good morning. Dollar is getting some relief as euro losses ground after Standard & Poor’s downgraded Spain. Here are some charts worth your attention today

USD Index

Trendline support is still intact, thanks to Spain’s downgrade

USD Index Daily 4-27-2012

S&P500

Bulls are more confident now that it’s back to 1400 and it’s quite obvious that the decline to 1356-1360 was corrective

SPX Chart Daily 4-27-2012

SPX Chart Daily 4-27-2012

EURUSD

I was rather expecting the breach of 1.32 to be valid, hence EUR to extend gains towards recent top near 1.34. Anyway, it doesn’t look like a decisive collapse yet so it could be a corrective pullback. If it continues, next support is at 1.3100

EURUSD Chart 4hrs 4-27-2012

EURUSD Chart 4hrs 4-27-2012

AUDNZD

This nice bullish setup which I highlighted two days ago is still in play. Resistance is in focus, so it’s time to consider more strength on potential breakout

AUDNZD Chart Daily 4-27-2012

AUDNZD Chart Daily 4-27-2012

EURNZD

Not much happening since 3 days ago, so it’s probably a good idea to wait until it exits the range

EURNZD Chart Daily 4-27-2012

EURNZD Chart Daily 4-27-2012

AUDUSD

Aussie dollar recovered, following stock indices, and former resistance provided by the downward trendline coming from 1.0550 has been breached. There’s probably some buying on dips going on within the 1.0330-1.0350 zone. Still doesn’t look THAT bullish if you as me, ¬†but things would look different if Aussie gets closer to 1.0450 which is a notable barrier

AUDUSD Chart 4hrs 4-27-2012

AUDUSD Chart 4hrs 4-27-2012

have a great weekend

2 thoughts on “Charts to End the Week 4/27/12

  1. Kenwei

    These grading agencies really need to be restrained. At least, the news release date/time should be noticed public ahead of the news. The market action so far seems on the way of your prediction. I agree the euro dip is corrective, but partly due to US strong and resilient stock market. GDP report in the morning is the key.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>