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Monday, August 3, 2009
Chart Updates for London Session
Clear consolidation squeezes forming on the GBPJPY and the Cable. Both look as thought they are starting to break down. Cable 1.6717 is a key support for this hour.
EURUSD is in a tight range and making a squeeze, but is already in a very narrow range. EURJPY is consolidating now too, but not as gradual as I'd like to see it.
USDCHF is finding resitance at 1.0722
Economic news has been very bullish for the AUDUSD. May see a pullback before a continuation upward. A break of .8400 could become a key support to watch.
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