#USDx and Euro Update

Both Euro and USDx have changed the main move of the day as expected. Also, as stated on my earlier posts, there is a breakout gap that shall be covered on the Buck @ 74.77. This level will become support.

From the 74.77 level, USD should resume its reversal pattern.

Likewise, both EURO and the Franc, have left breakout gaps earlier on today. Those gaps will be covered sooner than later. The support (gap bottom) for the Euro will be 1.4370. However, this level should be taken sooner than later.

Once the Buck reaches this support level (74.77) Euro shall resume its drop as well.

The 30 min. chart demonstrating a channel breakout as well as the breakout gap left behind. A position in the direction of the main move of the week was established.

#GBPUSD

This is how the pound looks like at the present moment. It's about to break the neckline of the H&S formation that proposed the reversal. We are still on hold as the USDx is also about to break a key trend line f a descending channel.


This upcoming week could provide great trades. This one, especially, could become another positional trade.

Cheers and Good weekend.

The daily chart showing a trend line (neckline) that has been touched (and actually penetrated) for 4 times. Next approach will most likely break this line.

#AUDCAD Diamond

Another one in the makings. Like the one observed today in USDCAD, this one is looking very symmetrical so far as it's just a projection.

Lets wait and see where it can take us.

The daily chart demonstrating a very symmetrical diamond.

#USDx and Majors

USDx has a bearish MACD divergence present. Therefore, I believe price could drop towards the 74.00 and than pickup to the upside again. A small correction on the short term trend. For the majors, this will mean a short term appreciation on pairs such as EURUSD, GBPUSD, NZDUSD and AUDUSD.

Lets wait and see.

#NZDUSD

Kiwi also has an interesting breakout. This could as well become a positional trade. Initial target @ 0.7755.

Will post chart later on.

#USDJPY Diamond breakout

A smalled diamond clearly seen on the 30 min. chart and the 60 min chart provided a nice breakout during Asia. Lets see where it takes us. This could turn into a positional trade.