The failure of the US$ to break back above the daily Cloud and 102 resistance level is keeping the bearish H&S pattern alive for the time being. This US$ weakness has helped to trigger some breakout from patterns I have been stalking.
USDX daily: I’m still watching for any make or break of this potential H&S. Watch for any break above 102 or hold above neck line to void this pattern:
Gold: a breakout from the 4hr chart’s triangle triggered during the European session.
Gold 4hr: a break of this triangle gave 90 pips from the move off the 4hr chart:
Gold 15 min: the first TC signal after the Asian session finished would have allowed a haul of 130 pips:
GBP/USD: I Tweeted yesterday to watch for any trend line breakout on the GBP/USD and this was the chart from that Tweet:
Cable 15 min: the chart before any breakout:
The breakout triggered a bit later but evolved with a new TC signal and gave up to 90 pips:
Cable 4hr: this is how the 4hr chart appears today showing the break of the daily chart’s trend line:
AUD/USD 4hr: the 0.77 looks to have been dealt with:
AUD/JPY 4hr: still triangle bound for now:
NZD/USD 4hr: the b/o from the bullish descending wedge is underway:
USD/JPY 4hr: the triangle breakdown seems underway:
GBP/JPY 4hr: this is one pair that really has my interest. I’m watching for any momentum-based trend line breakout:
USD/CAD 4hr: I’ve adjusted the trend lines here:
GBP/AUD 4hr: keep an eye on these triangle trend lines:
GBP/NZD 4hr: still messy and sideways:
EUR/AUD 4hr: no further gain here:
EUR/NZD 4hr: this trend line breakout gave 120 pips:
USD/MXN 4hr: this has broken down from the 20 level:
USD/CNH 4hr: this pair is still within the 4hr triangle but note how the 15 min chart gave an easy to read trend signal during the European session:
USD/TRY 4hr: slow moving but still drifting lower:
The post FX: H&S still visible on US$. appeared first on Trade Charting.
The post FX: H&S still visible on US$. appeared first on www.forextell.com.