As I implied in my last article, the dollar remains mixed despite mainstream financial media trumpeting dollar bullishness.
EURUSD is back above its 60MA on the H4 chart and trading sideways below resistance at 1.1620 dollars.
GBPUSD is now bullish and is on track to test 1.3800 after crossing the 1.3650 pivot.
USDJPY is extending its bullish run (the only bullish dollar pair) and on track to test resistance at 114.70 yen
AUDUSD has already reached its 74.15 cent topside target. I don’t think it will attempt for 75 cents anytime soon.
Gold tried to make it to 1800 dollars but came back down to 1765 support.
As always, all prior support and resistance lines were still respected and will likely continue to be.
The charts at the end of this article are H4 charts of a selection of major FX pairs.
The targeted support and resistance levels are in the latest colored boxes on the respective charts.
Each pair would have to cross their respective colored zones to confirm any meaningful change or extension in trend.
—
All displayed chart support/resistance lines are either historical levels or actual confirmed order book levels currently being traded by major players based on available market intelligence.
Disclaimer: This content is for educational purposes only. It does not constitute trading or investment advice. Past performance does not indicate future results. Do not invest more than you can afford to lose.
