US dollar chart installation tips more deep losses likely to come

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Ilya Spivak, currency 29 may 2012 strategist 03: 41 GMT the takeaway: US Dollar technical positioning indicates prices are likely to get more return before the advance more large building in the past 10 months resumed the momentum.

S & P 500 - prices are testing the resistance of 1331.70 marked by the expansion of Fibonacci 123,6%, with a break exposing the level of 100% to 1347.70. Short term support is figure 1300.00, a psychological barrier, reinforced by the former resistance at the top of a broken drop channel from the top, with a lower break exposing the top swing on 27 October at 1292.90 may 1.

Daily chart - created with FXCM Marketscope 2.0

Crude oil - price formatted candlestick Harami above resistance-turned-support our heading 90.14, 7 September high fence, evoking a corrective bounce may be coming. Positive divergence in RSI strengthens the case for a scenario head. Initial resistance aligns to 92.51, a former support marked by on 16 December, low, with a thrust above this targeting 95.41 (an another former background now acting as resistance to the low February 2).

Daily chart - created with FXCM Marketscope 2.0

Gold - price will continue to consolidate above support in the region of 50 1522-1532 45. Short term trend support-turned-resistance lines to the 1584.56. A break above this limit exposes the figure of 1600/oz, followed by the top of a channel set from late February, now at 1621.73.

Daily chart - created with FXCM Marketscope 2.0

Us DOLLAR - price completed a model Breakaway bearish candlestick under 10241, level 100% expansion of Fibonacci resistance, noting that the subway is coming. Initial support lines up to the area of 10134-41, marked by the expansion of 76.4% and the October 2011 swing high. A less break on a daily basis of closure exposes the 61.8% Fib to 10078.

Daily chart - created with FXCM Marketscope 2.0

-Written by Ilya Spivak, strategist of Dailyfx.com currency

Contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @ IlyaSpivak

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May 29, 2012 03: 41 GMT

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