So here is one worth watching today.......AUD/USD. Breaking above a shooting star is a strong sign of buying power.
- #15,486
- Apr 24, 2016 10:50am Apr 24, 2016 10:50am
- | Commercial User | Joined May 2007 | 7,685 Posts
Here's a potential fun one:
AUD/NZD, a real grinder at times. By it's very nature, it tends to offer longer-term moves more than anything else. (It tends to be choppy.) This chart shows a potential inverse head and shoulders, one of my favorite patterns. When I draw it out, I see the neckline at (roughly) 1.13, with a head at 1.00 - a 13 handle height. If we can clear the neckline, this makes for a longer-term target of - 1.26!
This could be one that we hang onto for months.
AUD/NZD, a real grinder at times. By it's very nature, it tends to offer longer-term moves more than anything else. (It tends to be choppy.) This chart shows a potential inverse head and shoulders, one of my favorite patterns. When I draw it out, I see the neckline at (roughly) 1.13, with a head at 1.00 - a 13 handle height. If we can clear the neckline, this makes for a longer-term target of - 1.26!
This could be one that we hang onto for months.
- #15,487
- Apr 24, 2016 10:56am Apr 24, 2016 10:56am
- | Commercial User | Joined May 2007 | 7,685 Posts
Here is another one I am paying attention to, the GBP/CHF pair. The market has bounced nicely over the last two weeks, and could run out of momentum. The chart attached shows the 1, 2, and 3 year moving averages on a weekly chart. We are starting to roll over again, and are approaching the 38% Fib. Could be something to keep an eye on.
- #15,488
- Apr 25, 2016 6:38pm Apr 25, 2016 6:38pm
- | Commercial User | Joined May 2007 | 7,685 Posts
GBP/USD is an interesting pair for me right now. I am looking at the 1.45 area, not only for the 'large round number', but also for the possible downtrend line that is intersecting at this point. I look at a break above there - and beyond 1.46 - as an opportunity for this pair to turn around in general. The markets are probably focusing on the vote to leave the EU, so polls will be looked at by a lot of traders around the world. Also, look at the US, as the Federal Reserve will be less hawkish than originally thought.
However, the real thing to pay attention to is of course the chart. It doesn't matter so much as to why, just that the market is moving in a particular direction.
Chart 1: Zoomed out....
Chart 2: Closer look....
However, the real thing to pay attention to is of course the chart. It doesn't matter so much as to why, just that the market is moving in a particular direction.
Chart 1: Zoomed out....
Chart 2: Closer look....
- #15,489
- Apr 26, 2016 6:19pm Apr 26, 2016 6:19pm
- | Commercial User | Joined May 2007 | 7,685 Posts
Here is one I did some commercial analysis for today: The USD/CHF pair. We formed a hammer at the 0.97 level, an area that we have seen support and resistance at before on longer-term charts..... a break above the top of the session on Tuesday could send this pair to the 1.00 level. Remember, interest rate statement today out of the Fed....
Inserted Video
- #15,500
- May 5, 2016 4:59am May 5, 2016 4:59am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea