From The Charts – EURUSD AUDUSD
- December 2nd, 2010
QUADRUPLE CHART DELIGHT: $USDX, US 10 yr Yield, $AUDUSD, $EURUSD. Here are the levels requiring your attention. EURO BULLS WILL NEED TO SEE A CLOSE above $1.32 on Friday in order for the downtrend to be challenged into a concrete rebound.A Friday close below $1.32 would be an immediate negative into the following week.
US 10 YEAR YIELDS TOUCH 3.00% for the 1st time since August, nearing the 200-day MA of 3.10% while USD approaches towards its own 200-day MA of 82 from the current 80.40. This especially negative for $EURUSD as the spread between German and US 10-year yields (GE minus US) deteriorates to -0.18% after repeatedly failing to regain positive territory since June 2009. The yield spread implications for $EURUSD are such that $1.30 will likely come under assault before our medium term target of $1.27 emerges.
ASHRAF’s VIDEO MARKET HIGHLIGHTS http://bit.ly/ gkBKWS
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Lydia Idem has been investing in equities for 16 years and trading currencies actively for 5 and a half years. Her trading style is simple and short term. With a special feel for sterling, Lydia trades almost exclusively the GBPUSD and EURGBP. You can follow Lydia on Twitter and StockTwits... (more)