Sunday, November 4, 2012

A brief snapshot of longer term market direction

I did some analysis based off of Weekly charts and these are my opinions for each pair.

Tweets


$EURGBP looks lower to .796/91 which makes sense for the near term plans.

$NZDJPY three bar weekly surge into resistance. Expect a pullback this week.

$AUD pairs all seem overbought here expect some pullbacks soon.

$AUDUSD in a long term bull triangle. I believe price will fall as far as .9760 area. It gets here over the next couple of months

$AUDNZD I am in a short position and was within 1 1/2 pips of my target when market closed Friday. I see it lower to 1.2475 eventually.

$USDCAD longer term I see as sideways to down. Short term it appears lower to .986/85 area.

$USDJPY will eventually be sold down to the 79.536 area where I will buy it up and target 80.893, 81.097 and 84.071 longer term

$GBPUSD I favor the upside longer term. Short term could trade either way downside support @ 1.5800 should hold. Upside I see 1.6300

$CHFUSD will test .9550 level we get a break above this I see 1.2735 as next resistance. Longer term bearish pattern should unfold.

$EURUSD I see in a longer term bullish pattern. Short term price price should hold1.260/65 area, if not 1.2330 next stop.

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