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:
Gold 4hr: has broken down from the recent triangle but watch for any new make or break at the 61.8% fib, circa $1,260.00
EUR/USD: this has also broken down from the triangle so watch the daily chart’s 61.8% fib for any test; this is down near 1.10 and almost 600 pips away from current price. Note that the current daily chart uptrend remains intact until this 61.8% fib is broken:
EUR/JPY: I’d said recently to watch for any make or break at 134.40 and it came through in spades, or rather, 170 pips!
EUR/JPY 4hr: respect of the Double Top 134.40 region:
EUR/JPY daily: a bit of a pull back here would not surprise as it’s been on a decent bullish run:
AUD/USD daily: weaker here too given the stronger US$ 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: