EURGBP made an effort to break out of that downtrend channel and after that, it has been sliding lower but on the upper trendline of the former channel, which may indicate that this pair wants to go higher eventually. But as we have drifted lower for quite some time now, I suspect that a new low, to trigger the stops there, can't be ruled out. Therefore I remain...
AUDUSD has made its way back to the previous consolidation area and now is testing the resistance line of that zone. It might correct a bit higher from here but not considerably (meaning no new highs). I want to see a break out from that consolidation area to the first yellow box that I have plotted on the chart. From there on I would be more confident about the...
NZDUSD chart looks absolutely beautiful. The measured move of H&S gave us a new support level which has held since March 2014. Now we are back in the support area and I am interested to see it fail. If that area gives away, then the place to look for price to find some bids again is around the 38.2 fib retracement area which is supported by the former neckline of...
Lack follow through in GBPUSD has made me cautious about the long side. The last two moves to the upside seem to be related by 50% and so far the high has held. To consider any kind of weakness in the pair, I'd like to see the dotted red trendline to be broken and the price to reach the area, marked with the red box (minimum).
The EURUSD has been tricky lately and today ahead of German IFO and Mr.Dragi's speech I'd say the pair might break either way in short-term outlook. We have established a nice support area but in the same time all the trendline resistances have held and we are still very much in range. No important levels have been broken. One small piece of evidence that makes...
EURAUD bounced higher from a long-term trendline and now it is trying to make its way to higher levels once again. One thing that cannot go unnoticed is the fact that the last two legs higher are related to each other. So there's relatively good chance that the 3rd leg might also be related to the Original move.
The recent aggressive drop in USDCAD bounced higher@ 38.2 retracement level (by the pip basically) and made its way back above Pitchfork Median Line and consolidated there for days. What does it tell us? Well, the pair is well bid, that's for sure and taking into account the fact that we consolidated above the Median Line gives me every reason to be more bullish...
Once again H&S pattern from the past catches my attention. As in EURJPY, I am not interested in the pattern itself but the former neckline is a totally different story. In this case it is especially interesting as some may say that the H&S pattern failed, hence the neckline has no value. Very much possible - but looking @ the price action and how the pair has...
To draw these trendlines I used two points for each, so actually one could have plotted them on the chart long time ago. What I find interesting is the lower trendline. It has been touched quite many times and I'm getting suspicious that it might not hold if we touch it again. So, in my opinion it is "make or break" time for USDJPY. Go higher and never look back...
There was a possible H&S in EURJPY sometime ago but the pattern alone doesn't really interest me. What I do find interesting are the two re-tests of the former neckline after the H&S finished its move. Based on the price action after the re-tests I'd say it looks more bullish than bearish.
Break of that multi year trendline in USDSEK is definitely notable. I am looking for the price to reach the area that is marked on the chart to make this break more believable. However, as this trendline carries a lot of weight, we should expect a re-test sooner or later. All in all - watching closely.