A look at the charts post FOMC

The FOMC interest rate hold has weakened the US$, lifted Silver and Gold but rattled stocks and commodity currencies. This is a brief look at some charts in the immediate wash after FOMC and, whilst it may take a few sessions for the US rate news to be digested and for any clear new market trends to evolve, there are trend lines worth watching.

EUR/JPY daily: this daily chart is one of the cleanest and I’m wondering if this is offering the best slow-burn towards a breakout move following FOMC. Keep an eye on the triangle trend lines:

EJdaily

EUR/USD: I consider the 1.18 might be targeted here as it is major S/R:

E/U daily:

EUdaily

E/U monthly: the 1.18 level is long term S/R:

EUmonthly

AUD/USD: the delayed US rate hike could be a bit of a game changer for this pair. Add to this that we have a new PM down here and any improved business and consumer confidence could help to support the pair.

A/U daily: gave a spike on the FOMC news but note the daily trading channel. A bullish breakout here though would also affect a move back above a major monthly S/R trend line and would be a bullish signal:

AUdaily

A/U monthly: trying to break back above the monthly support trend line:

AUmonthly

GBP/USD: this has moved back up to test the 61.8% fib of the recent swing low move and is also near the previous triangle trend line. I received a new TC signal here yesterday and FOMC ended up being kind to this:

G/U 4hr:

GU4

G/U daily:

GUdaily

G/U weekly: whilst there is a bear trend line above price, I’ll be watching for any break of this for a potential move back up to 1.60:

GUweekly

U/J 4hr: Interestingly, not much FOMC reaction here just yet:

UJ4

GBP/JPY 4hr: an inverse H&S brewing here. Price couldn’t break the monthly pivot and 4hr 200 EMA so watch these for any further tests:

GJ4hr

USD/CAD 4hr: we got the trend line break so watch for any continuation:

Loonie4hr

Oil 4hr: got the trend line break here too so watch for any continuation:

Oil4hr

GBP/AUD daily: chopping sideways now given both AUD and GBP strength:

GAdaily

GBP/NZD daily: similar here with no clear breakout either way given both NZD and GBP strength:

GNdaily

S&P500 daily: price is still below the daily Cloud and attempted a bullish triangle breakout BUT it is struggling to break back above 2,000. Watch this level though as any close and hold back above 2,000 would have to be bullish.

S&PdailyCloud

Silver weekly: watch for any bullish wedge breakout:

SilverWeekly

Gold weekly: ditto here:

GoldWeekly

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