Support and Resistance Archive
XAUUSD is setting up a potential breakout if this triangle formation is valid. Gold bulls' wait could be over soon in this sequence 1. break trend line 2. break strong resistance 3. new high.
Prospective EURUSD levels to look at based on previous highs as well as projection from a triple bottom chart pattern that is now very prominent. In addition a quick look at DXY.
With a chart going back to 1994, this long-lasting EURAUD resistance zone probably qualifies for a 'generational' level. Keep in view. EURAUD could be capped below this zone for quite a while.
Call them milestone levels but I hope these levels stopping EURUSD, NZDUSD and AUDUSD will finally be broken to shift the market into a new phase. Otherwise we are stuck in this range since 2015 till date.
An interesting technical level to watch for EURUSD. For some reason, it has trouble staying North of this red line save less than 3 months (March - May 2016) in the last two and a half years.
An example of a weekly chart of a major US financial stock printing a head and shoulders price action in total harmony with a bearish signal from Commodity Channel Index. When multiple elements come together to give a consensus signal, traders have a high probability setup.