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USDCHF, USDSGD and GBPUSD charts in barchart and zigzag

With a new low year-to-date printed yesterday and a zigzag showing descending peaks and troughs, this chart should never be confused with a buy. GBP is probably weakest against USD with the exception of CNH.

GBPUSD H4 barchart 19 Jun - 20 July 2018

GBPUSD H4 barchart 19 Jun – 20 July 2018

On the other hand, both USDCHF and USDSGD look like long continuation pattern now waiting for a confirmed support to appear.

USDCHF H4 barchart 19 Jun - 20 July 2018

USDCHF H4 barchart 19 Jun – 20 July 2018

USDSGD H4 barchart 19 Jun - 20 July 2018

USDSGD H4 barchart 19 Jun – 20 July 2018

To draw these charts, first got to line chart. Use trend line tool to connect highs and lows. For previous major swings, connecting the major highs and lows will do. For the most recent wave, connect minor tops and bottoms for more detail. Done, go to bar chart. Unless price is trapped in a clear range or printing a reversal pattern, stick to existing flow.

According to this previous post, unless a major blow off appears, it is increasingly clear Dollar’s strengthening when all forex majors agree.

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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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