General Market Outlook - Developing Tops & Bottoms
I'm not officially back yet, I'm still on my break but I figure I'd post a general market outlook for you guys.
GBP/USD bounced off of the 1.682X level last week
AUD/USD broke the 61.8% fib level (0.933X) but appears to have developed another top at 0.943X
USD/JPY looks to be forming a base in the mid 101.XX region
NZD/USD hit the ascending trend line last week at 0.874X (just above my 0.873X level from before)
EUR/USD and USD/CHF may be heading to retest their highs and lows respectively, which also coincides with their broken trend lines.
GBP/USD bounced off of the 1.682X level last week
AUD/USD broke the 61.8% fib level (0.933X) but appears to have developed another top at 0.943X
USD/JPY looks to be forming a base in the mid 101.XX region
NZD/USD hit the ascending trend line last week at 0.874X (just above my 0.873X level from before)
EUR/USD and USD/CHF may be heading to retest their highs and lows respectively, which also coincides with their broken trend lines.