FX: will this be the big breakout?

The FX Indices have been range-bound in their respective Flag patterns for many weeks but now look to be attempting a new breakout and this is setting up some great chart patterns across on FX pairs. This US$ weakness is also helping to develop some of the stock patterns I’m stalking and I wrote a post on this yesterday; found through this link. All in all, 2018 looks to be shaping up to be a great year for both trading and investing!

NB: I am away over the next five days so there won’t be any updates during that time.

USDX weekly: This Bear Flag has been shaping up for many weeks but has struggled to make any breakout. There is a push lower at the moment but I would want to see the 92.50 support give way before being too confident with this latest breakout:

EURX weekly: much the same here. Watch for any increased momentum to underpin this breakout:

Trend line breakout trades and TC signals:

Gold: this breakout move on Gold is now up to 360 pips and the recent TC signal has moved on to be up 4.5 R. The $1,300 level is just ahead and this is the level to watch for any new make or break:

Gold 4hr: watch the $1,300 level for any new make or break.

Gold 15 min: now at 4.5 R:

EUR/USD: this breakout is up to 70 pips and this move gave a TC signal for 2 R but watch for any new make or break at the key 1.20 level:

EUR/USD 4hr: 70 pips but the major 1.20 level is just above:

EUR/USD 15 min: a 2 R trade:

EUR/USD weekly: looks like a big Bull Flag setting up under the 1.20 S/R level:

EUR/USD monthly: any break and hold above 1.20 would be very bullish and bring the monthly bear trend line into greater focus:

EUR/JPY: this move stalled at the major 135 level so watch this for any new make or break:

EUR/JPY 4hr:

EUR/JPY 4hr: revised trend lines here now:

EUR/JPY monthly: the 135 level is a major S/R zone for this pair so any close and hold above this would be very bullish.

EUR/JPY monthly Cloud: recall there has been a recent bullish Tenkan/Kijun cross and I alerted about this some weeks ago. Such crosses are rare and generally good for thousands of pips:

AUD/USD: the Aussie has stalled at the 0.78 S/R level and is about 150 pips away from a 4 1/2 year bear trend line.

AUD/USD 4hr: this breakout move has stalled at 120 pips whilst price negotiates the 0.78 level:

AUD/USD weekly: watch for any weekly chart triangle breakout:

AUD/USD monthly: any close and hold above 0.80 would be bullish and offer lots of ‘blue sky’ for a move higher:

AUD/JPY: this pair has stalled at 88 but the 89 level is the big one to watch as it is long-term S/R:

A/J 4hr:

A/J monthly: showing how key the 89 level is for this pair:

NZD/USD: this move has stalled after giving 70 pips but watch the 0.71 level now for any new make or break:

NZD/USD 4hr:

NZD/USD 4hr: revised trend lines here now:

NZD/USD weekly: the ‘whole number’ levels are important here but watch for any triangle breakout here too:

Other Forexwatch these 4hr chart patterns for any new breakout:

GBP/USD 4hr:

USD/JPY 4hr:

GBP/JPY 4hr:

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