- This topic has 7,816 replies, 31 voices, and was last updated 5 hours, 11 minutes ago by .
-
US500 15 MInute Chart – rISK oN
When looking at CFDs, different brokers can have different pricing for the same symbol, which makes it hard toi identify specific chart points.
However, charts should look similar, although actual price levels may differ.
In this US500 chart, note how red AT lines dominate, indicating the risk on the upside.
The sharp move-up today has so far passed just below a key resistance line.
Stocks have so far ignored a tick uo in US yields nit the dollar seems to be getting a mild lift from it.
EURUSD 4 H
Without getting into Res & Sups now, problem with this picture is that the Trend line bellow was violated, but they NEVER closed bellow it. I don’t want to be a devil’s advocate here, just pay attention to it. Might mean nothing, but at the end looking at past performance one would always say : of yes, they have never closed below the trend line…it was obvious…
So, as long as the Support stays intact, be very very careful.
EURUSD 30 Minute Chart – YAWNEURUSD is so far winning the tug-of-war, trading just above 1.09 in what is still a market on hold ahead of key events. Note the red AT lines showing the risk has been on the upside, now dependent on 1.0896 holding to keep a bid, stronger if 1.09 can become support.
As the chart shows, with little above the market until 1.0946, there is little to go for in terms of stops, leaving the focus on 1.09 to set the tone
USDJPY 4 HOUR CHART
The key flow giving EURUSD support is a firmer EURJPY ahead of the BoJ decision early Tuesday.
If you want to sell JPY and not force the BoJ to intervene, one way is to follow the path of least resistance, which is on its crosses.
The chart shows 3 levels of resistance above the market and on the downside, needing to hold the 162.17 level to keep a bid.
As SF Monege pointed out. the prudent approach is to step back and let the dust settle on the BoJ decision as all that is certain is that there should be volatility following it.
EURGBO 1 HOUR CHART
Flows into EUR crosses seem to be behind the better EURUSD tone (testing 1.09,) in a market biding its time ahead of key monetary policy decisions this week.
This created a tug-of-war with the USD caught in the middle.
One of the crosses is a firmer EURGBP (in a tight range), so far pausing just below .8560 resistance, which stands in the way of the .8578 level, the top of the current range.
It looks like this cross finds a bid on dips as long as it stays above .8545-50.
AUDUSD Analysis: Breakdown and Potential Downside Movement
AUDUSD has recently broken below the 0.6584 support level, signaling that the upward movement from 0.6477 may have concluded at 0.6667.
Further decline is still possible in the upcoming days, with the next target set around 0.6535. If the price manages to break below this level, the focus could shift towards the 0.6500 area.
The initial resistance level to monitor is at 0.6585. A successful breakout above this level could potentially bring the price back towards the falling trend line on the 4-hour chart.
A breakthrough of the trend line resistance would suggest that the downward movement from 0.6667 may have concluded, with another rise towards the previous high at 0.6667 potentially in the cards.
USDJPY 4 HOUR CHART
THE FOCUS TO START THE WEEK WILL BE ON USDJPY AND JJPYCROSSES AHEAD OF THE BOJ MARCH 19 DECISION.
The only levels that really matter are 148 and 150 as key levels lie outside of it although 148.03 (and the trendline) are key supports on this chart (suggests 149 as the midpoint)
There are several articles on the BoJ and JPT in our new and outstanding blog
GBPUSD signal for the coming week:- You must be logged in to reply to this topic.