Big items at big levels = Big decision time

A number of trading instruments, including the US$, Oil, the S&P500, DJIA and a number of FX pairs, are trading near key S/R levels suggesting some decisions need to be made in either breaking or respecting these regions. The current charts of some of these are posted below but the weekly candle close will be important on most.

USDX weekly Cloud: the index is trying to hold above the support of the weekly Cloud:

USDXweeklyCloud

USDX daily: there is also major 92.50 just below current price that might kick in some support:

USDXdaily

S&P500 weekly: trying to print a bullish weekly Flag breakout and close above the 2,100 psychological level:

S&Pweekly

DJIA weekly: watch to see if this can close the week above the 18,000 psychological level:

DJIAweekly

Oil weekly: watch to see if this can close the week above the $50 psychological level:

OilWeekly

TC Signals: two of the three signals have now closed off:

Gold 4hr: now up at 220 pips. Keep watch on the key $1,300 level if price keeps on this tangent:

Gold4hr

E/U 4hr: closed off after just 70 pips:

EU4

A/U 4hr: closed off after 170 pips. Watch to see if it can hold the week above the key 0.74 level:

AU4

Other Forex:

NZD/USD: still holding above the key 0.70 level for now:

Kiwi4 KiwiWeekly

EUR/JPY: this continues to hold near major trend line support for the time being:

EJ4 EJweekly

A/J 4hr: holding just below the key 80 level:

AJ4

U/J 4hr: watching for any test of 105.5:

UJ4

GBP/JPY 4hr: back at the 154.50 level:

GJ4hr

EUR/NZD daily: watching to see how this reacts at 1.58:

ENdaily

EUR/AUD 4hr: trading at the bottom of the recent range. Watch for any make or break activity down here:

EA4

The post Big items at big levels = Big decision time. appeared first on Trade Charting.

The post Big items at big levels = Big decision time. appeared first on www.forextell.com.

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