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USDJPY 1 HOUR CHART – Up like an escalator, down like an elevator
This is a classic example of a disorderly market so suspect the BoJ was in covertly to smooth the market,
Key support is at 141.73, a break would expose 140 and the low again,
On the upside, there is little until 146.49 (minor at 143.77) so use short-term charts if trading this currency.
Do you ever wonder why you turn on your screens and it is often hard to figure out which way the forex market will move as it appears to be in balance? Have you ever thought about why currencies settle into tight ranges with interest on both sides before making the next move? Have you noticed how a currency gets stuck in a tight range in one center and needs to see another center open up to break from that range? Well I have and can tell you the reason why.
Forex Trading: A Constant Search for Equilibrium
BTC DAILY CHART – Trying
It still amazes me how Amazing Trader chart levels work on any instrument and in any time frame (see blue line – chart).
Meanwhile, BTC is trying to establish above 65K to setup a run at 70K but so far has failed to close above it.
Supports are clear at 62300-800 as only below it would deflect the risk from the upside.
NAS100 4 HOUR CHART –
Similar to US500, NAS100 opened higher but then settled back
.Chart is clear: Needs to hold above 19842 to keep the risk on the record high at 20771 although 20000 is likely equally important in maintaining a bid.
Resistance starts at 20318, then 20593 ahead of the record 20771 level.
Note that CFD price feeds can differ between broker, even those using the same symbol. Ss, look at the chart pattern if the levels below do not line up with the prices on your chart.
US500 4 HOUR CHART – New record high but…
Opened at a new record high but then backed off into a range. This leaves the new high (5773) as the key resistance level,
Using this chart, US500 maintains a bid as long as it trade above 5711.
Note that CFD price feeds can differ between broker, even those using the same symbol. Ss, look at the chart pattern if the levels below do not line up with the prices on your chart.
XAUUSD 4 HOUR CHART – No sign of a top yet
Still no sign of a top with another record high at 2685.
As I have been saying:
When in unchartered record territory, resistance is only a guess so use the latest record high as the only level that matters. In addition, with no real resistance, the big figure like 2700 would be a potential target/pause level.
Another way to suggest a pause would need a day without a new high.
Support is now from 2650-2670..
XAUUSD 4 HOUR CHART – No sign of a top yet
Still no sign of a top with another record high at 2685.
As I have been saying:
When in unchartered record territory, resistance is only a guess so use the latest record high as the only level that matters. In addition, with no real resistance, the big figure like 2700 would be a potential target/pause level.
Another way to suggest a pause would need a day without a new high.
Support is now from 2650-2670..
BTC DAILY CHART
BTC trying to wake up from its slumber where 65K is clearly pivotal
As Bobby posted late yesterday
Just my 10 cents worth… To understand BTC , one should go with the biggest time frame , and then use that picture to position him/herself on smaller intraday time frames. We have very interesting situation here – 5 days till months end and possible perfect pattern for a break UP . 63.480.00 is a pivotal – if closes above , most probably will break 70K and continue to new high around 80K Only below 63K we can talk about down.
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