US stock markets have risen in the first day of the week, after negative performance last week, despite the surprising employment data on Friday. The level of 1340 points in the S&P 500 is still a critic level in which the buyers and sellers are still battling. If the index crosses above this resistance, it will be up again to the annual highs.
Commodities prices have been lifted sharply after last week crashing. Goldman Sachs said yesterday, that commodities prices will raise again and the last correction made a good opportunity to buy them.
AUD-USD
The Australian currency has corrected down against the USD last week, as most of the majors did. However, there are some significant signs that may indicate that the correction is over and that this symbol is ready to take over the fresh pick at 1.10. If Monday's high will be break-through, than the reversal pattern will be completed in the daily chart. It is important for the AUD not to break the important support at 1.055 In order to keep its strong momentum. The 20ma is supporting the daily movement, and it is far from the slow averages, which indicates that the trend is strong. Stochastic levels are at the perfect highs to make a reversal.
GBP-JPY
Britain's houses prices were surprisingly down by 1.4% last month, as expectations were a raise of 0.2%. The Pound shows weakness against the USD in the last few days, whereas the Japanese currency is getting stronger, despite the governmental efforts to slow it down.
In the technical aspect, there is no doubt that the trend is bearish. An incomplete triangle appears in the daily chart, but it seems that if the buyers and sellers meet in this point, the sellers will win and this pair will fall. The support of the 200 MA was broken, and it crossed below the 100 MA, which indicates that prices are getting lower again. In the other hand, stochastic low levels indicate a possible correction.
NZD-CHF
For those of you who did not take the trade in this symbol, that was published in smarttrade's reviews last week , there is a possible opportunity around the current levels. The original trade was called at 0.7 and it produced more than 200 pips. Now, this pair is retesting the break-down area, which became a resistance area.
If the NZD continues raising and crosses sharply above the 0.70, than it might correct up and cause a 'short-squeeze'. However, if a reversal occurs around these levels, than an "Inverted Cup & Handle" pattern will be completed in the daily chart, getting supported at 0.673. A break-down of this support can make this symbol fall hundreds of pips.
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