Some Forex Charts Of Interest

G’day all. No fixed theme this week. Instead, here are the pairs that got my interest after a quick look at the charts, starting with the pound which has received my selling affection lately.

GBP/USD Weekly shows an apparent breakdown of a rising wedge at long term overhead resistance near 1.70.

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GBP/USD 6hr where 1.61 being tested as resistance after acting as recent support.

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GBP/JPY 6hr showing similar behaviour of retesting previous support as resistance.

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And ditto for GBP/CHF 6hr which also looks to be at an extreme point on the bands.

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So it’s clear the pound is banging its head at resistance. Which pair to concentrate on will depend on what happens on the following charts: USD/JPY and USD/CHF

USD/JPY 6hr, in the middle of a rising channel within a greater downtrend.

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USD/CHF 6hr is at an extreme level near resistance after the recent sharp move.

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IF all the above charts break north then the plays will be long GBP/JPY and GBP/CHF. If you had to pick one only then CHF/JPY 6hr below may help decide, or as a chart to trade on its own merits.

CHF/JPY 6hr

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Although I may start the week concentrating on pound pairs, other charts offer good opportunities as well as correlating with the above.

EUR/CHF 6hr at resistance and extreme point.

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AUD/CHF 6hr also at resistance and extreme point.

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So that’s four out of five CHF charts at immediate resistance. So the conclusion there is that the Swiss Franc is greatly oversold in the short term and is at support. May as well look at one more CHF cross then.

CAD/CHF 6hr. The story is the same.

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And what of our usual favourite pairs.

AUD/USD 6hr, really looks like a definitive break out of a bull flag. Hard to imagine it will continue without some kind of short term pause, but it does look like continuing. Maybe the euro will give more clues.

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EUR/USD 6hr speaks for itself.

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Which ever way these charts go they will offer some great trades. I will sell first and if wrong, buy the breaks. I’ll view any sideways movement as an energy building continuation pattern.

Finally, this weeks craziest chart. SPX 6hr.

10c

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