Quote of the day: “Insanity in individuals is something rare – but in groups, parties, nations and epochs, it is the rule.” ~ Friedrich Nietzsche
Good morning. The dollar continues to weaken as EUR recovers on news coming from Brussels: EU setting 50% Greek bond writedown, 1 trillion euros in EFSF fund. Let’s see what are some of today’s charts of interest, now that everyone jumped back on the risk-on train:
USD Index
support is being breached and the ugly turns uglier
USD Index Chart Daily 10-27-2011
EURUSD
1.400 is under pressure and it seems that a break is imminent.
Euro Vs US Dollar Chart Daily 10-27-2011
AUDUSD
Support at 1.0350 held and it was a good level to buy the Aussie when the markets resumed uptrend on news from Brussels. 1.0750 is where next important resistance is seen
Australian Dollar Vs US Dollar Chart 4hrs 10-27-2011
AUDJPY
Quite a clear buying signal here, as the previous daily candle suggests more gains / uptrend resumption. When I will continue the discussion on the Breakout Trading topic, remind me of this setup – it is actually one of my favourites.
Australian Dollar Vs Japanese Yen Chart Daily 10-27-2011
USDCAD
Last bounce off support @parity was short-lived and the US dollar resumed the decline. It shouldn’t be hard to reach .9800 once parity is clearly breached
US Dollar vs Canadian Dollar Chart Daily 10-27-2011
Have a great day!
Brilliant job, friend!
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