Lines On Forex Charts Weekend 30th Oct 2011

The markets never cease to amaze. If you missed the big move late in the week like I did don’t worry, the market will always be there.

EUR/USD Daily – Could it be as simple as price retesting the (orange) uptrend line? Red dashed line shows level of gap from September 2010. The whole pattern under the orange line looks like the bottom during May/June 2010.

EUR/USD 1hr – an uptrend with a bull flag. Resistance lines from daily chart within striking range.

——————————————————————————————————————–

EUR/CHF 1hr – just looks weak. I really fancy it to test the resolve on the SNB.

——————————————————————————————————————–

AUD/USD Weekly – The top line is relevant to the hourly chart below.

AUD/USD 1hr – weekly resistance in view now that had provided earlier barrier at 1.10. Current action supporting at 106.60 preventing visit to 105 again. But if 108 is seen then door open for move to 112. Approx 100pip range to trade if no breaks.

——————————————————————————————————————-

CHF/JPY 1hr – one of the clearest charts this week, giving the impression of a bull flag breakout already.

——————————————————————————————————————-

EUR/JPY 1hr – very clear levels at whole numbers, blue line extends from April top.

——————————————————————————————————————–

USD/CAD 1hr –  Look no further than 0.99 and 1.00 for direction. Some parallels within the channel handy.

——————————————————————————————————————–

I’m sure there are more charts I could do but this is enough for now. :))))))))))))

10c

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s