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: 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 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: revised trend lines here now:
NZD/USD weekly: the ‘whole number’ levels are important here but watch for any triangle breakout here too:
Other Forex: watch these 4hr chart patterns for any new breakout: