Ideas update AUDUSD

Aussie dollar...

Previous chart posted on May 8th 2012 full post here

Current chart

Rapidly approaching flag target at 9680

May overshoot a little

looking at longs from here

Sentiment seems very negative and conversely very positive for dollar

DAX finally breaks 6400

The DAX finally broke 6400 today..just need acceleration to the downside form here, though it is possible it may have a re-test of that level (Shake out)

If 6300 breaks, then looking at 6035 as possible target and extreme at 5875 as outlined in previous post here

FTSE approaching flag target

The FTSE is approaching the flag target outlined here

Here is the updated DAILY CHART


If selling accelerates the Head and Shoulders target is more likely at 5200


And just in case if the selling is CRASH like 5000 will be key...

FTSE update

Targets for drop remain the same..as pointed out in this post

Looking at the 2 hr chart, can see that market is short term oversold..
Would look to sell in the "zone" (Area between previous support and resistance)  5573 to 5621
200 dma is at 5558 so may not get as high as the "zone"

FTSE 2 hr

FTSE DAILY

AUDUSD

Aussie dollar (v USD) broke the flag...and looks to be headed medium term to .9860..NOTHING goes DOWN (Or UP) in a straight line..sell strength take profits on the sharp dips...BE NIMBLE!!

DAX 3 hr

DAX plunged yesterday morning and rallied 20 points during the day..so was that it?
Using strength to sell into..still targeting  min 6035 previous post here
The rally was at obvious support at 6400..