Kiwi managed to close above the 21D EMA following its rally Tuesday with indicators now showing a bullish stochastic while macd is dropping. Note we have a double bottom in the daily picture. Intraday we have a confluence of buys among the 4H signals with stochastic overbought and macd rising. Hourly indicator show a bearish divergence with macd topping off and price action giving us a double top. Along with an evening star doji forming in the 4H picture we suggest focusing on a break of the 0.8095 support for 0.8066 possibly congestion floors at 0.8027.
After a roller coaster ride Cable turned out with a high wave doji while daily indicators underscore the indecision as macd’s continue to drop while stochastic comes off oversold levels. Note we have prices also well-off their EMA lines. From the 4H picture we have more signs of indecision as attempts to trigger a double bottom failed with macd rising and stochastic seeing a new bear cross. Hourly indicators are of little help with macd’s flat and stochastic seeing a new bullish cross over. We are in a no trade zone with the mixed indicators suggesting we adopt no bias. A close above 1.6004 along with good news should have us looking for a bounce to 1.6045 then on to the 21D EMA 1.6141. A break of 1.5975 with poor results should see a sell-off to 1.5919.
Following a break of the 1.0477 region we saw AUDUSD Tuesday spiking up for a follow through to the previous day’s hammer. We have daily indicators suggesting further gains with stochastic rising and macd bottoming out, note however we face a series of strong resistances in a limited price range. Intraday we have a confluence of buys with the stochastic in both hourly and 4H levels pushing further into overbought areas while macd’s rise. Immediate risk calls for furthers gains though we face a series of strong resistances, as such we prefer remaining sidelined an hourly close above 1.604 will see us bullish or a bounce off 1.0506 could be a buy for a test of the 1.0571(89) region.
Tuesday’s rally saw EURUSD closing above the daily EMA lines while indicators show the macd with a new bullish cross over and stochastic heading for overbought levels. Note daily charts are forming a double bottom with its trigger at 1.4442. Intraday we are seeing mixed signals from the 4H picture with stochastic showing a bearish divergence while macd is still rising. Hourly indicators show a confluence of bears with stochastic dropping and macd seeing a new bear cross. Note today we will be seeing the vote over Greek austerity, already we have a bearish intraday technical bias. A break of the 1.4327(37) region coupled by a failure to pass the austerity measures would suggest a big bear market for 1.4259 then 1.4186.
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