Charts and levels ahead of FOMC

Here are some charts that have my attention in the lead up to FOMC and the particular levels I’m watching for any make or break activity.

Gold: I’m watching the 4hr chart’s bullish-reversal descending wedge and the major $1,300 level.

  • any break and hold below $1,300 will have me looking to the 61.8% fib area on the daily chart as that is previous S/R near the $1,150/45 area.
  • Any bullish 4hr chart wedge breakout with momentum will have me looking to the monthly charts major 5 year bear trend line; just visible on the daily chart.

Gold4hr GoldDaily

EUR/USD: this has been bouncing along, pretty much in a sideways fashion, for the last 5 weeks but FOMC might give this a shake up.

  • Any break and hold below the 1.09, the nearest whole number below current price, will have me looking for a test of the previous low down near 1.045.
  • Any break and hold up from the 4hr chart’s triangle trend line will have me looking for a test of the key 1.12 level and then the 1.15:

EUmonthly

EUweekly EUdaily EU4

EUR/JPY: The 115 level is a MAJOR level for this pair and the E/J is sitting right on top of this in the lead up to FOMC. Watch for any make or break from here:

EJ4

EJmonthly

GBP/USD 4hr: watch for any breakout:

  • above 1.35: to maybe test 1.40 (S/R on monthly chart).
  • below 1.30: to maybe test 1.20 (S/R on monthly chart).

GU4

GUmonthly

AUD/USD: I’m watching for any break and hold:

  • above 0.76 and the three year bear trend line: to possibly target 0.95 as that is the 61.8% fib of the last major swing low move AND the junction of the monthly chart’s bear triangle trend line.
  • below the daily support trend line: to possibly target the monthly support triangle trend line (600 pips away).

AUmonthly

AUweekly

AUdaily AU4

USD/JPY:

I’m watching for any make or break of:

  • daily chart’s bear TL above price.
  • The 100.50 / 100 level below price.

UJdaily UJweekly UJmonthly

USD/CAD: I wrote an article about this pair yesterday where I suggested looking for any pullback to test the broken wedge TL and or the 1.30 level. Price is pulling back as I type so keep watch of these areas for any test.

Loonie4hr LoonieDaily LoonieMonthly

GBP/AUD: this might be more a pair to watch with today’s AUD CPI but watch for any make or break from the key 1.77 level:

GA4 GAmonthly

EUR/AUD monthly: maybe another one to watch with today’s AUD CPI?

EAmonthly

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