Midweek Charts to Watch 4/25/12

You may be deceived if you trust too much, but you will live in torment if you don’t trust enough. ~¬†Frank Crane

Good morning. Euro is back to the upside, retesting $1.3200 and it seems that a breakout is in the cards.

USD Index

Support formed by the rising trendline connecting recent higher lows is being tested again after Monday’s sell-off above 79.50. I remain bearish on USD and I think that a breakdown is more likely than a decent recovery

USD Index Daily 4-25-2012

USD Index Daily 4-25-2012

S&P500

Still no real sign of relief, as recent attempts to recover have been weak. It’s probably best to wait for an exit out of the range

SPX Chart Daily 4-25-2012

SPX Chart Daily 4-25-2012

EURUSD

As seen below, recent pullbacks have been corrective and the candles are suggesting that buyers are slowly taking control. Though 1.3200 is still intact, but it’s worth keeping an eye on it and also consider buying on break higher

EURUSD Chart 4hrs 4-25-2012

EURUSD Chart 4hrs 4-25-2012

EURNZD

First resistance at 1.6180 was breached, so it’s time to focus on 1.6370/85 where next barrier is seen. I remain bullish on EURNZD for now

EURNZD chart Daily 4-25-2012

EURNZD chart Daily 4-25-2012

AUDUSD

Not looking like the best pair to buy, but later there might be an opportunity to buy on break of downward trendline resistance.

AUDUSD Chart 4hrs 4-25-2012

AUDUSD Chart 4hrs 4-25-2012

AUDNZD

Probably a nice bullish setup…

AUDNZD Chart Daily 4-25-2012

AUDNZD Chart Daily 4-25-2012

have a great day

4 thoughts on “Midweek Charts to Watch 4/25/12

  1. Kenwei

    So you think it will break up side. Technically it looks possible. But fundamentally I just hesitate because of this European debt problems keep on surface.

    Reply
  2. Pingback: Charts to End the Week 4/27/12 | innerfx.com

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