Thursday, April 23, 2009

Quick updates on few charts

First the GBP USD (4 hour chart)

gbp usd support turns into resistance 22.04

Crystal clear. Break below channel support. Rally back to previous support line, which now acts as resistance, and prices fall back. Picture perfect. Suggests more downside coming. Notice the huge down candle and the consolidation after that – should break below tomorrow.

AUD JPY – 240 mins

aud jpy

Head & shoulders neckline break. Rally back to test neckline. Supply at former support level. Prices turn down from there. Break below rising trendline support would be final nail in the coffin of this pair which has rallied around 32% in past three months (that’s crazy for a currency pair !!!)


USD CAD – 240 mins

usd cad

Trendline guiding move up. Sees support from former resistance line of wedge. Note – this pair moves opposite to euro, pound, australian dollar etc, cause base currency switched.

CAD JPY – daily chart

cad jpy daily

CAD yen breaks below parallel channel support line.


NZD JPY daily

nzd jpy

well this one broke support long back.. its even reached the .382 fib.