Charts to End the Week 6/8/12

Creativity comes from trust. Trust your instincts. And never hope more than you work. ~ Rita Mae Brown

Good morning. The dollar found support at 82 and bounced back to 82.60, while the euro lost ground after touching resistance at $1.2620.

USD Index

USD Index Daily 6-8-2012

USD Index Daily 6-8-2012

S&P500

1300 was breached easily and now it’s time to keep an eye on it, again, but this time providing support

SPX Chart Daily 6-8-2012

SPX Chart Daily 6-8-2012

EURUSD

Resistance at 1.2600/20 is intact after yesterday’s test and euro pulled back to 1.2480 earlier today.

EURUSD Chart Daily 6-8-2012

EURUSD Chart Daily 6-8-2012

As seen in the hourly and 4hrs charts below, 1.2430 is where first important intraday support resides

EURUSD Chart hourly 6-8-2012

EURUSD Chart hourly 6-8-2012

4hrs:

EURUSD Chart 4hrs 6-8-2012

EURUSD Chart 4hrs 6-8-2012

USDCAD

1.0220 provided a stable support and the buck bounced back, retesting resistance zone near the rising trendline that it breached two days ago. I think there’s some more selling to expect in this region

USDCAD chart 4hrs 6-8-2012

USDCAD chart 4hrs 6-8-2012

USDCHF

Not much to add here (see EURUSD and DXY)

USDCHF Chart Daily 6-8-2012

USDCHF Chart Daily 6-8-2012

USDJPY

It was a nice breakout two days ago and such corrections are very common, when former resistance is tested “from the other side”

USDJPY chart 4hrs 6-8-2012

USDJPY chart 4hrs 6-8-2012

NZDUSD

Bears are back in control as the breach of resistance zone highlighted below was short-lived

NZDUSD Chart 4hrs 6-8-2012

NZDUSD Chart 4hrs 6-8-2012

have a great weekend

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