FX Analysis December 13

EUR/USD

The EUR/USD is still trapped inside the triangle pattern:

EUR/USD, H4

1.13 Support, 1.14 resistance.

GBP/USD

GBP/USD Daily Chart

Back testing major broken support (red rectangle): If it breaks back above it, we will have an important bullish sign. Rejection at current levels will lead to new lows.

USD/CAD

USD/CAD Daily Chart

There are major bearish pergence signs. The price remains inside bullish channel for now. There is 1.33 short-term support and 1.3155 major horizontal support. If this level breaks, I would expect price to move below 1.30

USD/JPY

USD/JPY Daily Chart

The price remains in bullish trend in Ichimoku cloud terms as price remains above the Kumo (cloud). There is a major triangle being formed here as well. 112.50 is major support. 114 is major resistance.

AUD/USD

AUD/USD Daily Chart

The Ichimoku cloud hasn’t done this since February. The trend might be changing here. The price pulled a back-to-back test of the broken cloud which is now support. A strong bounce of this cloud would be a bullish sign.

Disclosure: None of the information or opinions expressed in this blog constitutes a solicitation for the purchase or sale of any security or other instrument. Nothing in this article constitutes investment advice and any recommendations that June be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient. Any purchase or sale activity in any securities or other instrument should be based upon your own analysis and conclusions.

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