FX: charts after the ECB: By Mary McNamara

The US$ received a boost courtesy courtesy of the ECB fueling EUR weakness and so here is a quick look at how some FX charts are shaping up following this technical shift.

NB: I am still away on holidays and not back until next week.

USDX daily: seems to have cleared the channel but now watch for any make or break at 95.50, especially with Friday’s US GDP:

USDX weekly: I’m still seeing a Bear Flag but any bullish continuation will bring the 100 back into focus as this is previous S/R and the 61.8% fib:

EURX weekly: this potential Bull Flag isn’t dead just yet:

Forex:

Gold 4hr: has broken down from the recent triangle but watch for any new make or break at the 61.8% fib, circa $1,260.00

EUR/USD: this has also broken down from the triangle so watch the daily chart’s 61.8% fib for any test; this is down near 1.10 and almost 600 pips away from current price. Note that the current daily chart uptrend remains intact until this 61.8% fib is broken:

EUR/USD 4hr:

EUR/USD daily:

EUR/JPY: I’d said recently to watch for any make or break at 134.40 and it came through in spades, or rather, 170 pips!

EUR/JPY 4hr: respect of the Double Top 134.40 region:

EUR/JPY daily: a bit of a pull back here would not surprise as it’s been on a decent bullish run:

AUD/USD daily: weaker here too given the stronger US$ but watch the daily 61.8% fib for any new make or break:

AUD/JPY 4hr: watch the triangle trend lines and 87 S/R:

NZD/USD 4hr: still in free fall for now:

GBP/USD 4hr: watch the triangle trend lines for any new breakout:

USD/JPY daily: keep an eye on the 114.50 level for any new make or break:

GPY/JPY 4hr: watch the triangle trend lines and 150 S/R:

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