Technical analysis Trading March 12, 2012

EUR/USD Bias is still bearish in the short term as the bearish scenario double top still strong test area 1.3105, break and level the daily closure under the area could trigger further bearish pressure towards the key support at 1.3050 area. Nearby there are around resistant area 1.3175-1.3200, break back to top the area can bring prices toward the neutral zone in the short term return test area 1.3315.


Overall the GBP/USD price is still trapped in the area range between 1.6000 – 1.5640 in 5 last weekend and needed a break to one side to see a clearer direction. Nearest Support around 1.5705 area, break down the area can bring prices toward the neutral zone in the short-term test key support area 1.5640. To move up, we need a consistent break up 1.5805 to trigger advanced bullish momentum in the short term to test 1.5880.


AUD/USD Bias is bullish in the short term, especially after the slow stochastic intersect up oversold area on the graph 1 hour but requires break up 1.0630 to trigger a bullish momentum toward 1.0715 area before heading to 1.0820 area. Nearest Support around the 1.0525 area, break and level the daily closure under the area can return a bearish mode enabled and provide opportunities for the bearish reversal scenario at least to support strong on area 1.0475.

XAU/Gold are in-phase LOCO koeksi bullish as indicated by the stochcastic on the daily chart and after the price reflected the MA200 days. The correction will be heading for the nearest before 1720 as resistant went on to test area of 1735. Nearby there are in the area Support 1700, break down these areas can bring gold down to re examine the area of 1675.



OIS/Crude Oil And crude oil this morning are still moving in a rising channel on intraday charts, with an upper limit on 108.40 lower limit and channel the 106.53. This indicates that so far the price of crude oil is still likely to rise. However, if viewed at time frame as on the larger H4 chart, crude oil prices remained in a consolidation phase with a range of 104.35 and 110.50. Short-term trend thus far is still bullish over the zone support 104.35 survives.
INDEX still bullish Bias HANGSENG in the short term, the constant movement will bring upward 21100 hang seng rose to test area 21260. However, the oversold stochastic on the 4 hour chart a bearish correction could trigger the return to the area of 20820 in the short term.


The NIKKEI INDEX was still bullish Bias, especially if prices can break up into the area of 10000 toward 10170 area. Failure to break through to the top could trigger a bearish correction 10170 after stochastic on the daily chart enters the overbought area, returning to the area of 10000 or even area support at 9875.

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