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Assorted forex charts ‘soup of the day’ Monday Week 47 2017

Weekly charts of NZDUSD, XAUUSD, GBPUSD, USDCNH and WTI ‘big picture’ analysis. If one agrees with this moving average roadmap of DXY that the Dollar Index is trending down, then the story that these five charts here present clicks together very well.

 

Chart #1 – NZDUSD weekly chart July 2015 – present

Bottom left box = previous traded range.
Top right box = recently traded range.

Depending on personal preference, NZDUSD can be described in one of these ways:

  1. NZDUSD is displaying strong downward momentum. It has fallen out of recently traded 1.5 range to a previous one. Current support is decisively broken. Any pullback is an opportunity to sell.
  2. NZDUSD belongs to the recently traded range. It’s recent penetration below support maybe a false one; it is in the most ‘oversold’ state in 1.5 years.
NZDUSD weekly chart July 2015 - present
NZDUSD weekly chart July 2015 – present

 

Chart #2 – XAUUSD weekly chart from March 2016 to present

Continuation. USDSGD has the same setup.

XAUUSD weekly chart March 2016 - present
XAUUSD weekly chart March 2016 – present

 

Chart #3 – GBPUSD weekly chart year to date

Continuation.

GBPUSD weekly chart year to date
GBPUSD weekly chart year to date

 

Chart #4 – USDCNH weekly chart 2016 – present

Continuation.

USDCNH weekly chart 2016 - present
USDCNH weekly chart 2016 – present

 

Chart #5 – WTI weekly chart July 2016 – present

The way to deal with 52-week high is pretty straightforward. In this case, wait for a ‘higher low’ to complete picture.

WTI weekly chart July 2016 - present
WTI weekly chart July 2016 – present
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Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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