Technical analysis Trading Online March 21 2012

EUR/USD Bias still bullish in the short term towards 1.3290 area – 1.3340, break up the area could trigger further bearish pressure towards the area of 1.3400. Nearest Support around the 1.3190 area, break down the area consistent can bring prices toward the neutral zone in the short term. The bearish scenario double top will still apply but needs a break down at least to maintain a bearish scenario 1.3095 remains strong in key support areas test the 1.3000.


Overall the GBP/USD price is still stuck in a range of areas – and require the 1.6000 1.5650 break out of the range to see a clearer direction. Bias is neutral in the short term, with the nearest support is around 1.5820, break down those areas could trigger further bearish pressure towards support at 1.5745 area. To move up, break up consistent 1.5880 can trigger a bullish pressure resistant test at key areas of 1.5995.


USD/CHF Bias is still bearish in the short term at least to support in the area of the break and level 0.9090, daily closing below the area could trigger further bearish pressure towards area 0.9050. Nearby there are around resistant area 0.9135, break up the area can bring prices toward the neutral zone in the short test area 0.9200.

XAU/LOCO Bias is still bearish as long as price moves below the MA200 at daily chart, toward the area of 1635, break down these areas will continue at least into a bearish outlook area 1615. Nearby there are around resistant area 1665, break up this area could trigger further bullish pressure to back test the MA200 area around 1675.


INDEX bearish Bias HANGSENG in the short test area before the test area 20445 20755. Nearby there are around resistant area 20945, only to break up these areas that can trigger advanced bullish correction back to area 21100.


The NIKKEI INDEX in the medium-term bullish Bias towards 10200 and 10250 area. While the area was still a strong 9975 support for the nikkei, needed to break down these areas to continue towards the bearish correction or even 9700 9875 area.

Market Review March 21 2012

Dollar strengthened broadly on Tuesday, driven by demand for safe-haven that anxiety triggered the potential slowdown in China, which is pressing for European and us stock exchanges.

Gold drop for first time in 4 days, depressed by the strengthening dollar. While oil prices plummeted after Saudi Arabia pledged come to meet any shortfall in global oil supplies.

Economic Data today is a leading index of Australia-MI, minutes meeting BoE, public sector net borrowing, annual budget release from United Kingdom, existing home sales, crude oil inventories from the US, from Ben Bernanke's speech.