I’d like to take this opportunity to wish everyone a Happy and prosperous New Year. There are going to be some changes to my blog in 2017 but more about this in the New Year.
EUR/USD: the monthly triangle trend line has broken BUT the 1.045 level has been saved. This will remain the level to watch for any make or break when trading resumes for 2017.
EUR/JPY: price has held above a previously broken trend line so watch for any continuation.
AUD/USD: the monthly triangle remains intact here and the 0.72 level has held for the year. This will be of some psychological support for the Aussie and remains the level to watch for any make or break activity when trading resumes for 2017.
AUD/JPY: similar to the E/J in that a price has held above a broken trend line BUT note the bearish-reversal style pin bar or ‘Shooting Star’ style candle. This candle has formed just below the key 89 level and this will be the one to watch for any make or break activity when trading resumes for 2017.
GBP/USD: all a bit vague here. A bearish coloured ‘Spinning Top’ reflects indecision and that is exactly how I feel with this pair. I’m still on the lookout for any break of the bearish cycle of Lower Highs and Lower Lows on the weekly chart though:
NZD/USD: Price has closed for the year below the key 0.70 level and down from the Bear Flag pattern. Thus, is this the big trade set up for 2017? If so, watch for any test and fail of 0.70 when trading resumes for 2017.
USD/JPY: I’m keeping an eye on the 120 whole-number S/R level and the 124 level here when trading resumes for 2017. The 124 is the ‘neck line’ of a potential 4,400 pip ‘Inverse H&S’ move so well worth stalking!
GBP/JPY: this pair had looked bearish as it flirted with 143 but the close back above 144 for the month and year might be sending a different message.
USD/CAD: I’m still watching the 1.30 level and the monthly chart’s triangle for any momentum-based breakout:
AUD/NZD: I’m still watching for any momentum-based breakout here too:
GBP/AUD: the previous monthly candle bullish-reversal Railway Track pattern was spot on here as December closed green so watch for any continuation here.
GBP/NZD: the previous monthly chart bullish-reversal Railway Track pattern was spot on here too and price closed the year back above the key S/R level of 1.77. This remains the level to watch for any make or break activity but the close above suggests to me we could see some further recovery here.
EUR/AUD: a broken monthly triangle but 1.40 continues to be support so watch for any make or break from here when trading resumes.
EUR/GBP: I’m still on the lookout for a test of the 61.8% fib here:
The post Forex: a quick look at how some December charts closed. appeared first on Trade Charting.
The post Forex: a quick look at how some December charts closed. appeared first on www.forextell.com.