http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-11-01.htmlEUR/USD (daily chart) as of Tuesday (11/01/2011) has dropped precipitously since the beginning of this trading week from its high last week around key 1.4250 resistance (also the underside of the major uptrend support line extending from the June 2010 low). This dramatic fall broke down below several key levels, including 1.4000 and 1.3830, and occurs after a steep bullish run of over 1100 pips that extended through most of the month of October. Now that the pair has lost more than 50% of theTue, 01 Nov 2011 16:26:34 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-11-01.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-31.htmlEUR/CHF (daily chart) as of Monday (10/31/2011) has continued its fall towards the significant 1.2000 psychological support level after having turned down two weeks ago from an important long-term downtrend resistance line extending from the December 2009 high and the key 1.2400 price region.  After having hit the high above 1.2400 two weeks ago, price action broke down below a steep uptrend support line extending from the early August low just above parity (1.0000). The fact that theMon, 31 Oct 2011 16:00:16 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-31.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-27.htmlUSD/CHF (daily chart) as of Thursday (10/27/2011) has extended its fall substantially after breaking the neckline of a well-formed head-and-shoulders reversal pattern. Thursday’s price action saw the pair drop more than 200 pips to hit a 7-week low just below 0.8600, approaching key support in the 0.8550 price region. 0.8550 represents a key level that has been respected several times in the past both as support and as resistance. With price approaching such low levels, bearish momentum offThu, 27 Oct 2011 15:58:07 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-27.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-26.htmlUSD/JPY (daily chart) as of Wednesday (10/26/2011) has hit yet a new all-time low below 76.00, reaching down to 75.70 in Wednesday’s trading. This bearish price action conforms to a bearish trend channel that extends back to the early April high around 85.50. The downtrend channel has prompted the pair to drop below successively lower support levels, including the key 80.00 and 78.00 levels. Japanese intervention notwithstanding, further downside momentum below the key 76.00 level within theWed, 26 Oct 2011 16:29:03 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-26.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-24.htmlGBP/USD (daily chart) as of Monday (10/24/2011) has extended its rise up to the key 1.6000 psychological resistance level before backing off slightly. This occurs within the context of a steep bullish correction that began after price hit its 1.5270 low in early October. The current 2+ week bullishness has risen to more than 50% of the precipitous fall from the August 1.6616 high to the noted October 1.5270 low. Any subsequent further push to the upside that breaks above the 1.6000 level hasMon, 24 Oct 2011 17:34:46 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-24.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-20.htmlEUR/CHF (daily chart) as of Thursday (10/20/2011) has hit and tentatively respected a key resistance confluence that includes both a long-term descending resistance trend line extending back almost two years, and a key support/resistance line at the important 1.2400 level. Therefore, price is currently at a critical juncture. This occurs after price action rose dramatically (around 2400 pips in total) in a substantial bullish correction extending back to the early August all-time low justThu, 20 Oct 2011 16:28:25 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-20.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-18.htmlGold (daily chart) as of Tuesday (10/18/2011) has made a pronounced drop below its wedge pattern consolidation, which hints at a potential continuation of the bearish run that originated from the early September all-time high around 1920. This wedge pattern, which can also be considered a large inverted pennant pattern, represented a slightly bullish pullback consolidation that occurred after gold’s plummet down to the 1532 low extreme back in late September. After that low was hit with aTue, 18 Oct 2011 15:18:01 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-18.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-17.htmlUSD/CHF (daily chart) as of Monday (10/17/2011) has stalled above key support in the 0.8900 price region, emphasizing this level as the current price region to watch for key events to occur. At the moment, that key event has been a slight bounce that has highlighted 0.8900 as the most important support/resistance area within the context of the current bullish trend that has been in place since the early September breakout above the previous long-term downtrend. 0.8900 has served several timesMon, 17 Oct 2011 18:23:02 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-17.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-13.htmlEUR/USD (daily chart) as of Thursday (10/13/2011) has turned down from key resistance in the 1.3830 price region. This occurs after more than a week of strongly bullish price action that has formed a significant bullish correction within the context of the new overall downtrend that has been in place since the breakdown below 1.4000 in early September. The 1.3830 resistance level, which was just hit on Wednesday before turning back down in Thursday’s trading, has served as a keyThu, 13 Oct 2011 17:07:41 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-13.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-12.htmlGold (daily chart) as of Wednesday (10/12/2011) has continued its struggle to recover from the precipitous drop that brought price down from its latest all-time high of 1920 in early September down to a low of 1532 in late September. That three-week plunge of almost $400 culminated in a large hammer candle right down at the 200-period simple moving average support, indicating a temporary price failure to further its plummet. Since that candle formation, price has essentially consolidatedWed, 12 Oct 2011 15:17:09 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-12.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-11.htmlAUD/USD (daily chart) as of Tuesday (10/11/2011) has tentatively respected key resistance around parity (1.0000), turning down in trading on Tuesday after rising just a few pips above the parity level. This occurs after five straight days of net bullish price action that saw price rise steeply from its 0.9400 support level. Despite these past five days of bullishness, the pair still resides within a strong downtrend, although any subsequent breakout above parity could potentially place thisTue, 11 Oct 2011 16:20:16 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-11.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-05.htmlUSD/CHF (daily chart) as of Wednesday (10/05/2011) has continued to display a strong bullish bias in line with the new bullish trend that has been in place since the prior long-term downtrend was broken to the upside in early September. After that trend breakout, the new uptrend has been displaying the characteristics of a well-formed and technically-behaving bullish trend, reaching for progressively higher resistance levels while retracing back down to key support levels. These retracementsWed, 05 Oct 2011 16:38:47 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-05.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-04.htmlAUD/USD (daily chart) as of Tuesday (10/04/2011) has dropped down to a key support target in the 0.9400 price region after five consecutive bearish days that brought the pair plummeting down from its correction highs near parity (1.0000). This occurs within the context of an exceptionally steep downtrend that initiated from the 1.0760 high in the beginning of September. The fall from that high around a month ago broke down below a large rising wedge pattern, and then successive key supportTue, 04 Oct 2011 14:56:26 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-04.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-03.htmlGBP/USD (daily chart) as of Monday (10/03/2011) has resumed its strongly bearish bias within the context of a steep downtrend that has been in place for more than two months since the late August 1.6616 high. This downtrend established a low right around key support in the 1.5330 price region slightly more than a week ago, before making a significant bullish correction that approached 1.5750 resistance. This key 1.5750 resistance having held, price action turned back down in the direction ofMon, 03 Oct 2011 16:19:53 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-10-03.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-30.htmlEUR/USD (daily chart) as of Friday (9/30/2011) has begun a resumption of its bearish stance after making a bullish correction within the context of a strong and steep breakout downtrend. This new downtrend has its origins at the early September breakdown below a key wedge pattern and then below the 1.4000 price region, which represented a confluence of three important support factors: the 200-day simple moving average, a key uptrend support line extending back to the June 2010 low extreme, andFri, 30 Sep 2011 15:15:47 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-30.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-29.htmlAUD/USD (daily chart) as of Thursday (9/29/2011) has consolidated above key support in the 0.9700 price region. This occurs after price action dropped precipitously from its high just under 1.0800 in the beginning of the month. The month of September has shown a strong and steep bearish trend that has thus far culminated in an attempt to breakdown below 0.9700, but the pair has been unable to make a significant breach as of yet. But downside momentum for AUD/USD does not appear yet to be over.Thu, 29 Sep 2011 16:00:03 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-29.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-27.htmlUSD/CHF (daily chart) as of Tuesday (9/27/2011) has pulled back yet again in what is turning out to resemble a well-formed bullish trend characterized by strong breakouts to the upside interspersed with bearish pullbacks, or retracements. If price action continues this pattern of higher highs and higher lows, the uptrend that was started early in September on the strong breakout above the previous long-term 15-month downtrend, should gain further strength. After that breakout, price has goneTue, 27 Sep 2011 14:38:15 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-27.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-23.htmlAUD/USD (daily chart) as of Friday (9/23/2011) has backed off key support around the 0.9700 price region after having broken swiftly and strongly below prior key support around parity (1.0000). Friday’s price action rose up above 0.9800 from its half-year lows just below 0.9700. This pullback occurs after a precipitous 1100 pip drop that started in the beginning of September. After such a plummet, a bullish correction pullback is to be expected, with strong resistance now residing around theFri, 23 Sep 2011 15:13:48 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-23.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-22.htmlGBP/USD (daily chart) as of Thursday (9/22/2011) has continued its dramatic plummet since Wednesday, extending the sharp bearish trend that has been in place since the mid-August 1.6616 high. The current drop has brought price down to hit and dip under key support in the important 1.5350 price region. The steepness of this bearishness should soon prompt some corrective price action in the form of a pullback, but the overall directional bias continues to be to the downside in line with theThu, 22 Sep 2011 15:25:04 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-22.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-20.htmlUSD/CHF (daily chart) as of Tuesday (9/20/2011) has once again risen to re-test key resistance around the 0.8900 price region, a level that was just tested and essentially respected early last week. After last week’s resistance test, price pulled back slightly in its trend-breaking bullishness, to the 0.8645 price region, before turning back up. Now that price has re-tested key resistance, a strong break to the upside, which would continue the bullish breakoutTue, 20 Sep 2011 14:31:45 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-20.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-19.htmlGBP/USD (daily chart) as of Monday (9/19/2011) has continued its dramatic overall bearishness of the last several weeks by making a significant breakdown below key 1.5750 area support. This breakdown caps off a full month of steeply bearish price action coming off the mid-August 1.6616 high. Now that a breakdown below the 1.5750 support region has been made, the next major support target to the downside resides around the 1.5500 price region, which represents the 50% retracement of theMon, 19 Sep 2011 16:31:05 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-19.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-15.htmlGold (daily chart) as of Thursday (9/15/2011) has extended its pullback after hitting the latest all-time high of $1920 last week. The current bearish retracement is overdue, as the steep run-up from the early July low of $1477 was not indefinitely sustainable. Currently, price action has hit support offered by the trendline extending from that early July low, but the bearish correction does not yet appear to be over. A breakdown below the trendline could extend further down to $1730 supportThu, 15 Sep 2011 16:15:51 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-15.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-13.htmlEUR/USD (daily chart) as of Tuesday (9/13/2011) has reached and respected key support in the important 1.3500 price region, a round number psychological level that has served well as previous support and resistance in the past. This support bounce occurred just a few pips below the 1.3500 level, and hints at a potential pullback in the dramatic bearishness that has characterized this pair for the month of September thus far. Prior to the current bounce, this month’s bearishness made a swiftTue, 13 Sep 2011 15:13:41 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-13.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-12.htmlUSD/CHF (daily chart) as of Monday (9/12/2011) has continued its trend-breaking rise to hit key resistance around the 0.8900 price region before stalling in its dramatic bullishness of the past week. This occurs after a strong and swift bullish surge early last week broke out above an important downtrend resistance line that had been in place since the June 2010 high. This breakout was a highly significant move that has brought price well above its recent record lows. Now that price action hasMon, 12 Sep 2011 16:06:04 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-09-12.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-08-08.htmlUSD/JPY (4-hour chart) as of Monday (8/08/2011) has continued its steady, yen-strengthening fall after spiking late last week to a high of 80.22 on the heels of intervention by the Bank of Japan. This yen re-strengthening after the central bank’s attempt to weaken the yen essentially indicates that the intervention has had very little lasting impact on the upward trajectory of the Japanese currency. The fact that USD/JPY has dropped below key 78.50 support once again is an important bearishMon, 08 Aug 2011 15:00:23 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-08-08.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-08-05.htmlAUD/USD (daily chart) as of Friday (8/05/2011) has dropped precipitously this week and has reached down to dip tentatively below key support around the important 1.0400 support/resistance price region. This occurs after price action hit a new all-time high at 1.1078 in the prior week, and then broke down just yesterday below a confluence of the 100-period simple moving average and a long-term uptrend support line extending back to the June 2010 low. Currently at a critical support juncture,Fri, 05 Aug 2011 15:43:09 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-08-05.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-08-04.htmlUSD/JPY (4-hour chart) as of Thursday (8/04/2011) jumped more than three big figures to poke above the key 80.00 psychological level on the heels of BOJ intervention, before pulling back and settling around the 79.00 price region. This rather swift spike brought price up to approach a key downtrend resistance line extending back to the late April high. Now sandwiched between resistance around 79.50 and support around 78.50, price is currently at a critical directional juncture. A break belowThu, 04 Aug 2011 16:20:54 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-08-04.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-08-02.htmlGold (daily chart) as of Tuesday (8/02/2011) has once again established yet a new all-time high, which has been occurring regularly for the past three weeks, this time around the 1640 price region. This occurs within the context of a very clear and strong bullish trend on multiple timeframes — long-term, medium-term, as well as short-term. The 1635 price region, which price has just slightly surpassed, represents the 161.8% Fibonacci extension target of the last major bearish correction (fromTue, 02 Aug 2011 14:13:27 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-08-02.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-08-01.htmlAUD/USD (daily chart) as of Monday (8/01/2011) has consolidated around the key 1.1000 psychological price region after making a tentative upside breakout last week to hit a new all-time high around 1.1078, surpassing the previous all-time high set in May at around 1.1010. After having established the new all-time high, price action has wavered and retraced back under the key 1.1000 level. This bearish pullback, within the context of the overwhelmingly bullish overall trend, could bring priceMon, 01 Aug 2011 16:07:50 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-08-01.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-29.htmlUSD/CHF (daily chart) as of Friday (7/29/2011) has established yet a new all-time low, this time breaking below the 0.7900 level for the first time. This breakdown occurs within the context of a remarkably strong and technically-behaving long-term, medium-term, and short-term downtrend. This bearish trend, which has essentially been in place since the June 2010 high, has made progressively lower all-time lows and has adhered to key support/resistance levels and technical targets. After havingFri, 29 Jul 2011 14:05:24 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-29.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-15.htmlEUR/USD (daily chart) as of Friday (7/15/2011) has once again resumed its bearish stance after making a bullish correction up to 1.4280, which was the level of the 100-period simple moving average. That bullish correction occurred after price action broke down below a large triangle pattern extending back to the May 1.4940 high, and then ultimately hitting a low this week at around 1.3835 with a hammer candle. After making the bullish correction and topping out with a shooting star candle,Fri, 15 Jul 2011 14:39:49 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-15.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-14.htmlUSD/JPY (4-hour chart) as of Thursday (7/14/2011) has entered into a consolidation after having broken down decisively below the key 79.50 previous support region (now resistance). The breakdown below 79.50, which was the region of the significant May low, was also a breakdown below the 161.8% Fibonacci extension of the last major bullish correction, and it also follows on the heels of a breakdown below a key parallel uptrend channel that extends back to the early June low. This series ofThu, 14 Jul 2011 18:52:19 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-14.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-13.htmlAUD/USD (daily chart) as of Wednesday (7/13/2011) has once again approached a retest of key resistance around the 1.0770-1.0790 price region, which has already been tested and respected twice in the month of July. This resistance also represents the 61.8% Fibonacci retracement level of the last major bearish correction extending from the all-time 1.1010 high down to the 1.0440 area low. The current resistance retest occurs within the context of a strong overall uptrend extending back toWed, 13 Jul 2011 19:02:13 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-13.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-12.htmlGBP/USD (daily chart) as of Tuesday (7/12/2011) has dropped down to hit a key 38.2% Fibonacci retracement (of the May 2010 lows to the May 2011 highs) and also approached its 1.5750 downside support target, before making a significant rebound. This occurs after a couple of weeks of sideways consolidation around 1.6000 that followed on the heels of a bullish trendline breakdown that effectively ended the year-long uptrend. The overall directional bias on GBP/USD continues to be to the downside.Tue, 12 Jul 2011 15:06:10 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-12.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-11.htmlEUR/USD (daily chart) as of Monday (7/11/2011) has continued its significant bearishness from last week by breaking down decisively below a large symmetrical triangle consolidation pattern that has been in place since the May 1.4940 high. This swift and substantial breakdown has now approached, by just about 25 pips as of this writing, a key confluence of support around the very important 1.4000 price region. Price, therefore, is currently at a critical juncture. This support confluenceMon, 11 Jul 2011 14:05:43 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-11.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-08.htmlUSD/JPY (4-hour chart) as of Friday (7/08/2011) has been moving in a general consolidation framed by a slightly bullish channel. On the heels of the Non-Farm Payrolls report, price action dropped from the very top of this channel down to approach the very bottom before making a slight bounce. This drop occurs after price action was unable to sustain an upside breakout above a key bearish resistance trendline. In the event that bearish price action resumes with a breakdown below the currentFri, 08 Jul 2011 16:08:51 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-08.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-07.htmlAUD/USD (daily chart) as of Thursday (7/07/2011) has resumed its bullish stance after breaking out above a key descending triangle consolidation pattern, hitting strong resistance around the 1.0780 price region, and then pulling back to 1.0650 support right around the 50-period simple moving average. This breakout-pullback-resumption is a technical price move that hints at potential further bullishness to come. This occurs within the context of a long-term uptrend for the pair. In the eventThu, 07 Jul 2011 15:58:13 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-07.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-06.htmlGold (daily chart) as of Wednesday (7/06/2011) has made an exceptionally pronounced bounce off a key confluence of support around both the 1475 support region and the 100-period simple moving average. This high bounce has prompted a recovery of the recent bearish correction, and broke out above prior resistance around 1512 in the process. The recovery of the bearish correction is currently targeting near-term resistance around 1550, which is just a stone’s throw from the all-time high aroundWed, 06 Jul 2011 18:36:39 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-06.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-05.htmlEUR/JPY (daily chart) as of Tuesday (7/05/2011) has tentatively broken out above a descending resistance trendline extending back to the April 123.30 high. This trendline is part of a descending triangle consolidation pattern. The current pattern breakout occurs after price action formed a double-bottom around 113.50, which forms the bottom border of the noted triangle.  Not only has price made a tentative breakout above the triangle, it has also approached the peak of the double-bottomTue, 05 Jul 2011 14:15:49 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-05.htmlhttp://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-01.htmlGold (daily chart) as of Friday (7/01/2011) has extended its bearish correction after breaking down below a steep uptrend support line extending from the January low, and then breaking down below key previous support around the 1512 price region. This bearish correction then retraced back up to that 1512 region, now as resistance, before falling further to extend the bearish correction. This all occurs within the context of a long-term bullish trend for gold. The current bearish correction hasFri, 01 Jul 2011 15:57:30 GMThttp://www.fxstreet.com/technical/analysis-reports/support@fxdd.com (FXDD)http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/2011-07-01.html