FX: levels to watch on the majors ahead of key data by Mary McNamara

E/U: the 4hr chart’s bullish ‘inverse H&S’ has faded and instead I’m now seeing conflicting patterns here on the 4hr and daily charts. As always, trend line breaks might help guide traders with the next directional move. The 1.30 level remains a key level to watch.

E/U 4hr: bullish ascending triangle or……


E/U daily: or a bearish daily ‘Bear Flag’.


E/J daily: I am looking upwards to the next bear triangle trend line here for any continuation move and possible trade entry: 


A/U weekly: I’m now looking for any signs of bullish continuation here to form up the ‘inverse H&S’:


A/J 4hr: I didn’t get the pull back to 96 that I had hoped for. Not yet at least but this level is still on my radar:


Cable 4hr: this is messy ahead of the Scottish Referendum vote and I’m expecting wild swings once the result is released:


Kiwi 4hr: the 0.82 level and monthly support trend line remain key levels to watch here, especially ahead of the NZ w/e election:


U/J 4hr: I had though we might get a new TC signal and pull back to the 105.5 yesterday but neither of these evolved. I’m still watching the 105.5.


GBP/JPY: I have been stating for weeks now that traders need to watch the 173 level and we saw this tested again yesterday. At some point I suspect it will just continue without a further test. The Scottish Referendum result might determine if this move will be upwards or downwards though:


EUR/AUD daily: has held up and out from the bullish channel breakout but has not continued as yet:


GBP/AUD daily: bounced back down from the trading channel trend lines. Watch these for any new breakout:


USD/CAD: Strong CAD data overnight lifted the Loonie and resulted with this pair pulling back and it is now back below the 1.10 level. This level, and the monthly chart’s bear trend line, remain as key levels to watch with FOMC:


GBP/CHF: still channel bound ahead of the Scottish Referendum vote and other key GBP and CHF data:


GBP/CAD monthly: watch the ‘Handle’ trend lines for any bullish breakout:


Silver daily: still channel bound so watch trend lines and the key $19 level:


Gold 4hr: Much like the E/U: is this a bullish ascending triangle OR a ‘Bear Flag’? Watch trend line breaks for clues:


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