Cable made a pin bar on 03/30/09, followed by a narrow range bar (NR20) on 03/31/09. The breakout of narrow range happened on 04/01/09. Yesterday was a nice follow through of this breakout, which recovered most of the down swing. On hourly point and figure chart, cable made a double top breakout at 1.4633 confluenced with a resistance trend line breakout.
Euro formed a narrow range bar (NR7) on 04/01/09 with a series of higher lows, which indicated the interest of support. The breakout happened two hours before the start of US session. The up swing took euro standing above 61.8% Fibonacci retracement level. On hourly point and figure chart, with an obvious support trend line formed at the bottom, euro made a double top breakout at 1.3333.
On hourly point and figure chart, yen made a double top breakout at 99.25. The up thrust took former swing high of 99.66, then met resistance, and remained below 100 key level during the whole US session with a raised bottom indicating support. In Asia session, yen touched 100 but without following through momentum.
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