Daily Analysis – 03/25/2012

By March 25, 2012Analysis

 
The AUD/USD has come down from a double top in January 2012 and has steadily stepped it’s way lower. The most recent decline has seen it break through prior double top swing highs of 2011 that are acting as support, though this level has provided a launch pad to take some profits as it tests resistance above.

 

AUD/USD daily price action analysis

 

Here’s  a closer look at the action:

 

AUD/USD daily price action analysis

 

EUR/USD

 
The EUR/USD pair is trying to make a decision as to whether to follow through on a head & shoulders pattern forming on the daily chart. If it does complete it could mean a significantly lower move for the pair.
 

EUR/USD daily price action analysis

 

And a closer look at the action:

 

EUR/USD daily price action analysis

 

NZD/USD

 

Much like the other USD crosses, the NZD/USD pair has found support with a move off a round number (.8100) and prior swing high support. Big reaction. We’ll have to wait and see if it’s slowed down by overhead resistance @ ~.8250.

 

NZD/USD daily price action analysis

 

And a closer look on the H4 chart as to where an entry could have easily bee taken with only an approximately 40 pip stop loss for a 2:1 reward to risk profit.

 

NZD/USD daily forex price action analysis

 
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