Wednesday, May 2, 2012

EUR/USD, Dollar, Gold, Oil Charts

EUR/USD -

Weekly - Note pink channel down. Green support is off 2002 lows, so that's major support.


Daily - Closer view of the near term channel into LT support.




4hr - The head and shoulders with upper channel resistance. Give me one more LTRO and this will play out to green support near 1.27. The blue wedge also measures the same.


Dollar - 

Weekly - Large green wedge define the boundaries.


Daily - Channel that started almost exactly one year ago today. 


4hr - A closer look at the recent bust of blue and LT yellow channel support and the green resistance diag that is driving down of the most recent high. 78 held and a backtest of busted support is what appears to be happening here.


Gold - 

Daily - Yellow channel support goes back to 2008 lows. Green channel down off the 2011 highs, Recent blue channel challenging LT support. Larger white channel is something I'm tinkering with.


60m - Recent interaction with all the resistance points near 1678.


Oil - 

Monthly - Now pay attention to the upper blue resistance diagonal off the 2008 high.


Daily - Now do you know why price is struggling to get over that 103/105 area? NT yellow channel support has broken down.


4hr - Green channel taking out yellow support. Pink channel driving thru green resistance. Is this a fakeout move like we saw in silver last week?


That's enough for now.

GL and GB!

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