Forex4you Technical Analysis 08 April 2011
EUR/USD: Technical Analysis
The small and large box point and figure charts are bullish whilst the 3 x 0.0015 chart has exceeded its 1.4385 target. The 3 x 0.0005 chart is giving a target of 1.4455 whilst the larger 3 x 0.005 is giving 1.4550. It is likely that the exchange rate will continue rising, therefore, first to the lower target and then eventually to the 1.4550 level.
AUD/USD: Technical Analysis
Whilst the long rally on AUD/USD looks overextended, and Elliot wave counts and point and figure counts are indicating the trend may be close to reaching a conclusion, there is no evidence from price itself that that this is the case, so the bullish trend remains intact. Short term, there is a target on the 3 x 0.0005 chart at 1.0550 and the upper channel of the recent move up at 1.0560, so it is possible that this level may provide the next target higher.
Analysis by: Joaquin Monfort
Forex4you analyst
Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
The small and large box point and figure charts are bullish whilst the 3 x 0.0015 chart has exceeded its 1.4385 target. The 3 x 0.0005 chart is giving a target of 1.4455 whilst the larger 3 x 0.005 is giving 1.4550. It is likely that the exchange rate will continue rising, therefore, first to the lower target and then eventually to the 1.4550 level.
AUD/USD: Technical Analysis
Whilst the long rally on AUD/USD looks overextended, and Elliot wave counts and point and figure counts are indicating the trend may be close to reaching a conclusion, there is no evidence from price itself that that this is the case, so the bullish trend remains intact. Short term, there is a target on the 3 x 0.0005 chart at 1.0550 and the upper channel of the recent move up at 1.0560, so it is possible that this level may provide the next target higher.
Analysis by: Joaquin Monfort
Forex4you analyst
Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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