Money Matters

USD Pairs - All lined up?

Posted by Graham Parlane on 31 October 2012

Hi All

I note a number of currency pairs against the USD are all poised neatly below short term resistances. After a long period of (boring) consolidation I wonder will these levels hold once again, confining us to familiar ranges, or are we on the cusp of a break out and a decent trend?

I still expect a resumption of USD weakness on the basis of, all other things being equal, that QE3 will weaken the USD just as the prior installations did. Also I expect Chinese PMI’s out tomorrow to confirm that the worst is behind for the Chinese economy.

I will be buying these pairs (on strength) on a 1 hour hold above the seemingly co-ordinated trend lines.

G.

Fig 1 – NZD/USD

NZDUSD – Click here to view chart

Fig 2 – AUD/USD

AUDUSD – Click here to view chart

Fig 3 – EUR/USD

EURUSD – Click here to view chart

Fig 4 – GBP/USD

GBPUSD – Click here to view chart

Tags: AUD, AUDUSD, Broker, Currencies, Currency pairs, EUR, EURUSD, Foreign Exchange, FX, FX trading, GBP, GBPUSD, NZD, NZDUSD, Trader, USD

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