KIWI, Head&Shoulders detected

As Chart shows us, kiwi formed a Head & Shoulders pattern on the weekly chart, while daily studies somehow show that it’s heavily sold which gives us a sign for an expected pullback to 0.7550 - 0.7620 which would be a neck line test, i think a closing under the neck line suggesting to open some shorting positions and waiting for a retracement to the mentioned above area for opening more short positions, targetting 0.68xx area.

Moving Averages 13, 52 is so near now, a cross-over would be another sell sign, while target point “0.6800″ is 61.8 fibonacci line from 28 th. June 2006 low “0.5928″ till 9 th. March 2008 High “0.8214″ and at the same time Head & Shoulders expected target.

Last word to be said is “take care”, it’s a long term trade so we would taking our positions with a small amounts.

Metals: Strong Golden Bear

All what changed are:
1- Gold tested neck line already, which was the upper downtrend channel line, this was a confirmation for the down direction.
2- A line was added "Trading line", the pink one, this is the line it tests always for medium term trading.
3- We have now 2 points to care about, 844 "last bottom" and 834.50 "50%" Fibonacci level.
Same points targeted and keep an eye for breaking above the down channel for stopping loss.