Some charts that might be of interest:
EURGBP
EURGBP 4hrs chart 7-5-2011
GBPUSD
GBPUSD daily chart 7-5-2011
CHFJPY
CHFJPY weekly chart 7-5-2011 
CHFJPY daily chart 7-5-2011
AUDCAD
AUDCAD daily chart 7-5-2011
Cheers!
The New Zealand Dollar continues to defy gravity.
The currency known also as the kiwi is gaining on expectation that commodities will continue their overall uptrend. Benefiting from both economic and geographic ties to China, the New Zealand economy is benefiting from the “risk on” psychology of seeking higher-yielding assets.
It seems that there’s nothing but blue skies for the NZD/USD despite the daily chart’s recent transition from the mark up trend that has dominated since the bounce from 0.7118 on March 17.
The stall in the uptrend retraced lower towards the 38.2% Fibonacci Retracement before rallying once again from 0.7755 and back into the range of the 34EMA Wave confirming a more neutral stance.
The daily NZD/USD has corrected lower while also breaking the support of the uptrend by trading lower through the 34EMA Wave. MT4 chart with GRaB plug is available for free at my personal trading blog. The two parallel downtrend lines have formed what could be considered a wide and short Channel Down which is also a Bull Flag. Full article…
EURUSD Forecast The EURUSD had a significant bullish momentum last week and now slipped above the triangle as you can see on my h4 chart below. This fact could lead us to a new bullish phase not only testing 1.4695 – 1.4750 this week but also open the door for a retest of 1.4939 region. The bias remains bullish in nearest term. Immediate support at 1.4500. A clear break below that area could lead us to neutral zone in nearest term but only a break below 1.4450/00 support area could stop the current strong bullish intraday outlook.
Although we do not expect much to happen in the way of any significant price action developments on Monday, given the market closure in the US for the 4th of July holiday, overall price action has certainly been quite interesting in recent days. The risk on trade is very much back in vogue, and US equities managed to put in their best performance on the year in the previous week, despite closing lower on the month. A temporary resolution to the Greek debt crisis and some encouraging data out of the US have been helping to bolster risk related assets, with currencies like the Canadian and Australian Dollars outperforming. The Canadian Dollar has been a real attention getter, with the Loonie rallying sharply on the back of the pick-up in risk along with some interest rate hike supportive economic data in the form of higher inflation and better than expected growth readings.
“The Dow rose nearly 1 percent Thursday… Investors were encouraged by a report that the United States trade deficit had narrowed, one positive point in a recent string of weak economic data.”
Before you join the crowd in thinking that shrinking trade gap is bullish for stocks, read this excerpt from the 2011 edition of our popular free Club EWI resource, The Independent Investor eBook.
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Over the past 30 years, hundreds of articles — you can find them on the web — have featured comments from economists about the worrisome nature of the U.S. trade deficit. It seems to be a reasonable thing to worry about. But has it been correct to assume throughout this time that an expanding trade deficit impacts the economy negatively? Figure 8 answers this question in the negative.
In fact, had these economists reversed their statements and expressed relief whenever the trade deficit began to expand and concern whenever it began to shrink, they would have accurately negotiated the ups and downs of the stock market and the economy over the past 35 years.