Charts to Start the Week 4/30/12

Greed is a fat demon with a small mouth and whatever you feed it is never enough. ~ Janwillem van de Wetering

Good morning. Euro holds onto gains above $1.32 after it recovered on Friday from $1.3150 lows. All eyes are on Spain today, as the Spanish government holds a media briefing to explain austerity steps. The ECB rate decision and Friday’s Employment report are this week’s most important events. Here are some of the charts worth watching in the coming trading sessions

USD Index

Trendline support was breached, so it will probably provide a selling area in case of an upside pullback.

USD Index Daily 4-30-2012

USD Index Daily 4-30-2012

S&P500

The recovery above 1400 suggests that more upside action is likely, hence a good idea to keep an eye on 1420 which is the next horizontal barrier

SPX Chart Daily 4-30-2012

SPX Chart Daily 4-30-2012

EURUSD

Most important corrections provided good buying opportunities lately and I think that the theme will remain unchanged.

EURUSD Chart 4hrs 4-30-2012

EURUSD Chart 4hrs 4-30-2012

GBPUSD

Cable is trading nicely to the upside and it managed to breach above another resistance layer last week. I remain bullish on cable, expecting a test of 1.6500 in the coming days

GBPUSD Chart Daily 4-30-2012

GBPUSD Chart Daily 4-30-2012

Silver

Silver looks quite interesting now that it managed to return into 31.00/20 – 33 range. Recovery is likely to continue

Silver Chart 4hrs 4-30-2012

Silver Chart 4hrs 4-30-2012

CHFJPY

It seems that the bounce started after forming the reversal candle is over and it’s time to revisit support around 87.50

CHFJPY Chart Daily 4-30-2012

CHFJPY Chart Daily 4-30-2012

AUDUSD

Breaking above pivotal resistance, so it’s starting to look bullish on the daily chart. Next barrier is around 1.0630

AUDUSD Chart Daily 4-30-2012

AUDUSD Chart Daily 4-30-2012

EURNZD

Kiwi dollar is definitely more attractive than the euro and it’s hard to climb above this resistance zone between 1.6150 and 1.6300. Friday’s exit to the downside suggests that more selling is just around the corner

EURNZD Chart Daily 4-30-2012

EURNZD Chart Daily 4-30-2012

Have a great day!

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