March 5th Long-Term Charts

FX Strategy Video > Currency Pairs Analysis

EUR/USD has fallen during the past week, and given back all of its gains from the previous week in the process. The 50% Fibonacci level has held true, and now we look at possible consolidation.

AUD/USD failed to clear the 1.08 level on the close. However, the 1.06 level looks to still be supportive. The overall trend remains firm as long as we are above the 1.04 level.

USD/JPY fell during the week as the 80 level was retested for support. The area should continue to offer buying opportunities as the pair grinds higher. The candle is a very, very, very good sign for the bulls.

GBP/USD formed a shooting star for the week, after the previous two weeks showed supportive hammers. This looks like we could see consolidation between the 1.5650 and 1.60 levels.

Published on 3rd of March 2012
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