Daily Technical Analysis From XForex

XForex A Technical Point of View 5.2.09

Today there is important news from the European Central Bank for the Euro, as well as other news likely to affect the GBP and the USD. We are expecting volatility as the markets try to weigh the news.

EUR/USD 4 Hour Chart

 

A break below the 1.2790 level can take prices to 1.2710 first and then a break below that level may push it further to 1.2650 – 1.2612 – 1.2560 levels. The last bar shown is 4 am GMT.

 

 

AUD/USD 4 Hour Chart

 

A break below the 0.6390 level can push prices further down to 0.6240. Today will be a news oriented day and traders could consider moving stops gradually. The last bar shown is 4 am GMT.

 

 

GOLD 4 Hour Chart

Gold may provide opportunities today. A break above the 909 level can take prices to the 920 region again or a break down below 902 may push prices to 900 – 896 – 892 – 889 regions. The last bar shown is 4 am GMT.