Market Thoughts from andy on the EA

AUD/CAD

The price is oscillating on the 61.8 Fib line on the day chart.Since February 25th the pair has been on an aggressive run, long, withoutstopping for a breather. The last 6 days has seen the price hold around thisfib line. Look for further oscillations within a 200 pip range.AUD/USD: This pair continues in it upward trend heading for the 200moving average on the day chart at 0.7350. Currently the price appears to beoscillating on a strong resistance line at 0.7275 where it has tried tobreak thru once before. The pair is attempting to climb out of its low sinceits dramatic drop last July. Look for 150 to 200 pip oscillations foranother day or two as both the 200 ma and resistance line may well keep thepair from moving much further without major news coming out on the pair.

Euro/Aud

The price is also oscillating on the 61.8 Fib line on theday chart. Since March 19th the pair has been on an aggressive run shortwithout stopping for a breather either. Look for this pair to hold at thislevel for a while. On the 4 hr chart the price is currently holding on asupport line created 3 days ago. All 4 hr and day moving average indicatorsare above the current price so look for price to consolidate to give themoving averages time to catch up.


Euro/Cad

Price is sitting at the 200 ma and has dropped sharply sincethe 3rd of April. The price is consolidating at the price point, as it isan area previously of both support and resistance since February 18th, andlike many other pairs is at the 61.8% fib on the recent price activity sinceNovember 2008.


Euro/CHF

Price is holding on the 38.2% fib line and the 89 ma andlooks to continue to consolidate at this level for only a short whilelonger. The day chart is holding the price at the 89 ma and the 4 hr chartis supporting price at the 200 ma. Price has oscillated in a very tightrange so be careful and look for it to possibly move back up to the 50% fibat 1.5330


Euro/GBP

Price has been running in a short trend for almost a monthand is closing in on the 50% fib on the day chart. Price has approaching astrong support line at 0.8760. Look for it to consolidate near this pricepoint.


Eur/USD

Price is weaving between the 89 ma and the 200 ma on the 4 hr chart,and is consolidating on the 89 ma on the day chart, which is also the 23.2%fib on the day chart. We may get one more day of oscillation out of thispair before it makes a move. Look for news to make this pair move in onedirection or the other. Be careful because a break below the 23.2 fib willput it in a free fall all the way down to 1.2540. If the price moves to theupside, the 89 ma on the 4 hr might hold the pair at 1.3300.


GBP/CHF

The swissie looks to be a continuing its trend up towards the 23.2%fib, in a continuation of its aggressive manner. Price seems to beconsolidating over the last 36 hrs.


GBP/USD

The price is once again challenging the physiological 1.500 pricepoint for the 6th time since the 2008 route of the GBP. Coincidently (ornot) the 23.2% fib is also at the same price point. Until this pair decidesto settle around this price, be very cautious.


USD/CAD

Price has retraced back to the 38.2% fib line and is half waybetween the 89 ma and the 200 ma on the day chart. Price looks to beconsolidating at this support.


USD/CHF

Although there were some big moves recently, the price seems to beconsolidating as the 13 ma, 50 ma, 89 ma and 200 ma are all coming togetheron the day chart. I would expect it to consolidate for a little whilelonger, unless news creates a direction. Price is between fib lines.