Monday, April 30, 2012

Monday Forex Chart Patterns

Interesting Chart Patterns that are developing as we start the new week

GBPUSD: Support Keeps Rising.  Technical indicators suggest that the GBPUSD should be bought on the dips with stop losses just below its previous support levels.

EURUSD:  Had a Bullish flag that it broke out of last week.  Needs to confirm positive momentum by closing above 1.3265 resistance.  Failure to do so will probably bring out the sellers in force.

AUDUSD: Broke above 1.0400 resistance last week.  This figure could be used as an entry level for buyers if the pair sells off after Tuesday’s RBA news.

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