Today's interesting charts
Comment of the Day

January 20 2010

Commentary by Eoin Treacy

Today's interesting charts

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Eoin Treacy's view US Dollar per 1 Euro - the Euro is breaking downwards from the short-term range and a sustained move back above $1.4375 would now be required to question scope for some additional weakness.

US Dollar per 1 Australian Dollar - The Australian Dollar encountered resistance below the November high and would need to sustain a move above 93.5¢ to hinder potential for a retest of the lower side of the short-term range near 87.5¢

Singapore Dollar per 1 US Dollar - The US Dollar found support above the December low last week and would need to sustain a move below S$1.385 to question scope for further higher to lateral ranging.

FTSE-100 - The Index has fallen back to close to 5400 which marks the upper side of the previous range. An upward dynamic from that region of potential support is required to hinder scope for a further test of underlying trading.

Spain - fails to sustain the move above the psychological 12,000 and has now fallen back into the four-month range, making the potential for a retest of underlying trading above 11,000 more likely. An upward dynamic, similar to those seen at previous reaction lows, is needed to indicate a return to demand dominance.

Brazil - continues to encounter resistance in the region of 70,000 and needs to sustain a move above that level to reassert the overall uptrend. (Also See Comment of the Day on January 14th). http://www.fullermoney.com/x/default.html?id=1813&schtxt=brazil

Gold - pulls back rather sharply from the $1150 area as it continues to range below the December high. However, a sustained break of the progression of rising lows, currently near $1075, would be needed to question the integrity of the medium-term uptrend.

Oil - continues to pull back into the previous range, which has been a common occurrence since August. A sustained move below $69 would be required to question the integrity of the overall ranging uptrend.

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