Weekly OverView Mar07-Mar12

Last week we saw some bearishness in the dollar index: that might be due to some profit taking.

However, this weeks opening price is higher than last weeks close on some of the majors.


AUD/USD: Opens above a key support resistance level .9071 and above 100 day moving average. I am looking for a retest of Support level 0.9071/ 0.9041 and or 0.9021
If we can hold above these levels the pair might move towards a next strong resistance level at 0.9167

See H1 Chart:










EUD/USD

Opens the week stronger and above a lot of strong key support levels. A retest will assure the bullishness in the pair.

1.3594 is a key level that I will be watching as a strong support. On the upside strong resistance is around 1.3668 and then 1.3772 : 200 SMA and the trend line comes around that level as well on H4 chart.

See chart H1:








Gold: I see a lot of resistance and pressure near 1140 level. However, that pressure might ease after the end of first quarter.
For key levels see previous blog history.

Dollar index is moving sideways in between 81.11 and 80.07.

S&P and DJ I am waiting for a pull back before moving higher (Bullish trend): 1122 on S&P 500 is a key support and 10436 on DJ.