EURUSD has formed an M pattern

Thu, Mar 18 2010, 08:51 GMT
by Tomas Cedavicius


AUDUSD - Resistance level holds at 0.9247 while support remains at 0.9175. Further bouncing is expected between these barriers

EURUSD - Bears made a sharp fall towards support level which initiated to create “M” pattern. Waiting action stays for now.

EURGBP - Bears did manage to breakout by support barrier, short term selling actions are on a table for now.

NZDUSD - Narrow trading range continues, boring situation. Waiting for stronger activity.

USDCAD - Despite the recent bulls climbing, bears are controlling the situation. Selling options are better to look for now.