Weekend wrap-up - charts of most major currency pairs & trade thoughts - EURUSD, USDJPY, GOLD, BITCOIN, USDCAD, DAX, NZDUSD, EURJPY etc.
Hello everyone, doing my weekend review of technical charts for most forex major currency pairs and some indices, also Gold (xauusd) and bitcoin, on some bigger tf views. This update serves the purpose of writing my own thoughts down and in the process maybe help someone else. I love technical charting, keep in ming trendlines don't hold price, they are visual aids, but also a great tool for mapping channels, trends, triangle, breakouts and so on.
For the next week, for me the highlight is Wednesday, the Bank of Canada rate decision and statement. I feel like the Canadian dollar has squeezed too much out of its counterparts. One can still expect more squeeze running up to wednesday, but for USDCAD, downside followthrough could be small.
Here they are, charts & thoughts, feel free to comment & criticize. I welcome constructive criticism. I am not a writer, hence my thoughts maybe badly expressed, feel free to ask if something is unclear.
EURUSD daily. We're still here
EURUSD H4. Relative strength having trouble following through
USDJPY weekly still in a massive triangle, approaching topside
USDJPY daily, some levels on the upside
USDCAD daily broke dwon from channel. Dat RSI though! Some previous times with similar RSI marked on chart. Low RSI is still a sign of extreme weakness, but massive caution warranted as many relief rallies could run for hundreds of pips.
USDCAD H4 RSI is also diverging
NZDUSD weekly. After 7 green candles we had one red, so spell broken
NZDUSD H4 support losing significance. I hoped for a quick retest on trendline and then quickly down to 38% fib, but unfortunately didnt get it. Not trading this pair now, as on second it looks bullish, the other sideways/bearish. No idea what could happen next.
EURGBP daily. A massive range, RSI not confirming yet, but might any sec. As everything changes with GBP so quickly, beware of fake breakouts.
DAX daily, bouncing on short term historic level.
DAX weekly, massive marubozu, should have some more red soon
DAX monthly engulfing key reversal candle
EURJPY daily, sitting at 50% fib
EURJPY H4 RSI div, careful. BOJ is in the market though, should be bought on larger dips, for now.
GBPJPY daily, self-explanatory
GBPJPY H4, same with most yen pairs, diverging relative strength
GOLD H4 sitting at 50% fib, RSI not confirming lower yet. Might reverse anytime soon. Measured move also done.
BTCUSD. Bitcoin still in triangle, currently at apex. Breakout/breakdown imminent
Some nice clear levels man. I like the way EUR/USD has been stepping up intraday but has now hit that daily resistance. I'll be playing with that one tomorrow.
Cheers for getting the #chartart tag up and running too :) I've given you a resteem.
thanks man! im probably taking monday off from trading, but my eyes for this week are on usdcad, dax, wti (bias down on this) & some yen pairs
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