Selasa, 12 Oktober 2010

US Dollar faces Reversal after FED Minutes suggest further QE

Weekly USD/JPY shows under the Long term Support line - there is possibility for a fake downbreak unless BOJ walks out of it..

Daily USD/JPY shows clear down channel that meets the trend line Support at this critical junction - my test scenario suggests we go for 84.

Nice horizontal Range withing the Rising Trend Channel in 4-hour EUR/USD - so we test 1.4 before we break lower or we see a failure right here?

Same case in 4-hour AUD/USD - Trend lines suggest we go for a test of 0.99 before a significant Resistance kicks in. The surprise will be an outright break here.


US Dollar Index looks like bottoming and yesterday candle resembles a Bullish Engulfment, however today's candle is not a good confirmation sign..
Momentum and RSI suggest we bounce off the Lows which are significant on the long term charts around 77 level and my guess is we see a wave of USD buying after the FED announced its blur willingness to ease further its policy.

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