As long as resistance at 132.36 and more importantly 133.10 isn't broken to the upside the pressure will be down, that said we are oversold in the short term and should be on alert for a bottom soon.
AUD/USD has broken the lower Pitchfork support line, which could mean acceleration to the next target at 92.11 or that the short term decline is about to get exhausted. As we are entering wave iii down we must accept the possibility of acceleration as the most obvious call.
Short term it will take a break above 96.72 to ease the downside pressure.
S&P 500 broke important support at 1,110 and the close below the neck-line has activated the shoulder/head/shoulder top with a 813 target. Short term the neck-line now acts as resistance.
Looking at the MACD-indicator we are nowhere close to be oversold so the next important support at 1,019 should soon be seen.
No comments:
Post a Comment