Support and resistance levels drawn based on End-Of-day Close (forex pairs based on GMT+3, XAUUSD GMT+2). Pairs are USDJPY, XAUUSD, NZDUSD, EURUSD, AUDUSD, USDSGD, USDCHF and USDCNH. Charts from MT4.
A look at NZDUSD transformation from Head and Shoulders pattern into a Descending Triangle. Importantly the pair is still on track to a high probability reversal.
2 out of 5 high probability reversal setups appear in NZDUSD chart. This chart suggests a potential short should price get resisted one more time. Two more features to look out for are the right candlestick pattern and a confirmation break.
Weekly charts of NZDUSD, XAUUSD, GBPUSD, USDCNH and WTI ‘big picture’ analysis. Clicks together a story that indicates DXY weakening.
A look at Dollar Index DXY, EURUSD, AUDUSD, NZDUSD, GBPUSD, WTI and XAUUSD. A common theme – a turning point could be showing up soon seeing how these pairs might be at support.
AUD and NZD pairs show recurring, high probability levels on weekly charts, and have a lot of significance because of duration and number of hits.
Based on chart pattern projection and inspection of previous support resistance levels, these are potential targets for EURUSD, AUDUSD, NZDUSD and USDJPY.