Monday, May 21, 2012

Week 20--Fx Analysis + Charts--

Aud.Usd, Nzd.Usd. Usd.Cad, Aud.Jpy, Nzd.Jpy, Cad.Jpy, Eur.Jpy Chf.Jpy  and Eur.Usd hit their fib targets on the daily.  Therefore I anticipate these pairs to start their retracement on the daily soon, some pairs such as Aud.Jpy and Nzd.Jpy went in over drive on the sell off and these pairs are definitely due for a retracement soon. The only pairs that haven’t hit my fib targets are Gbp.Jpy, Usd.Chf and Gbp.Usd. For Gbp.Jpy and Usd.Chf, I anticipate these pairs to follow their peers above and also pull back before continueing towards their fib targets. 


This pair broke through major support levels and experienced a heavy 3 day sell off. The cable is ready to retrace towards support levels with R1 and R2 around 1.5892 and 1.5988. It does have the potential to come up to meet its left tip around 1.6066 before it u-turns towards the south. Keep in mind the cable has important announcements this week that can push this pair either way. 

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