Most FX pairs continue holding near long-term S/R levels ahead of Friday’s Jackson Hole event. Markets seem to be vesting a lot of hope in some clarity emerging from this meeting so I hope this proves to be the case.
Remember the days when markets used to present some decent 4hr chart trends and how these trends were often rather smooth? I’m longing for the return of action like on this chart below…snapped from 2011….I might be waiting a long time though:
USDX 4hr: the US$ has not been able to claim back the 95.50 level and I’ll be looking to see how this moves after Friday’s Fed speech event.
Gold 4hr: this has triggered a new TC signal but I’m ignoring this given Friday’s event. However, as previously stated, I am looking for a possible 61.8% fib pullback here:
Forex: the charts below show a range of FX pairs and the key levels where they are bunkering in. I may not update here again until the w/e if things remains quite. Watch for any make or break from these key levels after Friday:
EUR/USD: 1.12:
EUR/JPY: holding near 115:
AUD/USD: near 0.76 and under a major trend line:
AUD/JPY: holding near 75
GBP/USD: this looks like it might be drifting back towards the GFC low near 1.35:
NZD/USD: holding near 0.73 and has now made a daily close above this level:
USD/JPY: holding near 100.50 near the weekly chart’s 50% fib:
USD/CAD: still near 1.30:
GBP/AUD monthly: watch how the monthly candle closes and the 61.8% fib near 1.75:
GBP/CAD monthly: watch the 1.70:
GBP/JPY monthly: the 131 remains key here:
EUR/AUD monthly: watch the 1.55 and the bottom trend line:
AUD/NZD monthly: if this inverse H&S fails I’d then look for a possible ‘Double Bottom’:
The post FX pairs ‘bunker in’ at key levels ahead of Jackson Hole. appeared first on Trade Charting.
The post FX pairs ‘bunker in’ at key levels ahead of Jackson Hole. appeared first on www.forextell.com.