On Jan 31 2010 we published our opinion on the AUD/USD currency pair. In that analysis we said,
“Although we may get a bounce up to 0.91, I expect this currency to drop to 0.72 (with a pause around 0.8)”
We now consider the bounce, that we predicted to approach 0.91, to be complete. The next inflection/consolidation point should be 0.8. We expect 0.72 sometime after that.
Updated long term chart is
AUD LT
Updated Short Term Chart is
AUD Short Term
We are still holding a 1.27 target (see orig post) for this currency pair. Updated chart below:
EUR/USD
If you have read my earlier posts on the EUR/USD you will know that I have a 1.27 target on the pair, for sometime in the first half of 2010. I realize that that is fairly useless from a trading perspective. I have therefore put together a much shorter term analysis…
EUR/USD
The above chart shold show the primary support and resistance levles to 1.27. Good Luck!
Target remains at 0.72, with a pause at 0.8. Updated chart below:
AUD/USD
Target remains 1.27, updated chart below:
EUR/USD
Time to watch the markets for a few days and see the new emerging patterns. I still stay very bearish and expect 2010 to be very interesting, however bounces happen.
AUDUSD
Although we may get a bounce upto 0.91, I expect this currency to drop to 0.72 (with a pause around 0.8)
Next
First lets do the updated charts..
EUR/USD
And the 60 day chart..
EUR/USD
As you can see, we stopped around 1.387. Next week should be interesting. We are still holding on to our 1.27 target for this year.
In our last post on the USD (last November) the EUR/USD was around 1.47 and we reckoned it would go to 1.27. We still stand by this guess however we may be approoaching a critical inflection point (1.387) which may be used for either a bounce/consolidation or a total fall. Worth watching when we hit that point. Updated chart below:
EUR/USD
I have put together this chart of the EUR/USD. As you can see the USD was close to going into a horrible collapse, however it stopped at the fan line and started to reverse. I am looking for it to go back to around 1.27.
Euro USD
Update: Adding a close up
closer
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