Jennifer’s Monday Update

by jennifer on December 12, 2011

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Hello Trader Friends,
Hope you had a great Monday!

Here are a couple things I’m watching right now.

EUR/USD: I’m sure you noticed this pair is falling. Daily chart is touching a previous support level. I suspect it could fall 200 pips if it breaks through this level and especially if the RSI breaks through 30.

If this level of support does hold, we could get a Combo setup on the 4-hour chart. I will post it if/when that happens.

The daily charts on AUD/USD, NZD/JPY, GBP/USD, USD/CAD are all similar in that price is right at the 20 SMA midline. This is a neutral picture for me right now, so I’m waiting.
Here is NZD/JPY. The other three look similar.

That’s it for now. See you soon.

Jennifer

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  • http://twitter.com/OROFX1 OROFX1

    Hello Jen,

    Wish you a great week ahead!

    I also think that we should be watching UsdChf as it could be reaching a resistance point on the Dialy Rsi and head back to first inner band line or could go into extension if it manages to break resistance and 70Rsi. This is closely correlated to the EurUsd comments you made that if support hold on EurUsd we could have setup on 4H chart so if that happens we could simultanuously have another setup on USDChf back to the inner band line 1st TP.

    All the best for all.

    Talk to you soon.
    Oro

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