EURAUD
EURCAD
EURNZD
EURAUD The long term trend, as indicated by the nearly 9 year trendline, is down and price is not far below the trendline. That trendline is at 1.7073. A shorter term trendline has capped gains since last June and the EURAUD has declined from this shorter term line today. The 200 day SMA is also just above price, which is resistance. The bearish pivot is last weeks low at 1.6639. A decline below there would expose the January low at 1.6304.
EURCAD Our focus has been that the EURCAD may be tracing out a head and shoulders top. The neckline is not until the 1/15 low at 1.5082 but a decline below a short term support line drawn off of the 1/15, 1/26 and 1/31 lows would instill confidence in the bearish case. A decline below 1.5082 exposes the point where the 1.5509-1.5082 decline would equal the decline from 1.5478 at 1.5052. Shorter term, a decline below 1.5168 warrants a short term bearish stance for a test of 1.5052.
EURNZD The triangle interpretation that we favored last week was incorrect since the EURNZD dropped below the 2/5 low at 1.8858. Still, the decline from 1.9217 is corrective. The pair has retraced to the 50% of 1.8447-1.9217 at 1.8833 and may find support at current levels. An extension of weakness tests the 61.8% at 1.8742 before a rally attempt takes place. The pair is also close to testing a former resisting trendline as support.
Table
CCI(20) 21 day Commodity Channel Index
> 0 bullish
0 > bearish
> 100 extremely bullish
-100 > - extremely bearish
RSI(14) 14 day Relative Strength Index
> 50 bullish
50 > bearish
> 70 overbought
30 > - oversold
MACD ? - MACD slope (MACD MACD[1])
> 0 bullish
0 > - bearish
Mom(21) 21 day Momentum
> 0 bullish
0 > - bearish
ATR(14) 14 day Average True Range (volatility)
Medium 75th percentile* > ATR(14) > 25th percentile*
High - > 75th percentile*
Low 25th percentile* >
*measured against past 3 months
