Daily Chart Art – April 5, 2011

EUR/CHF: Daily

EUR/CHF Chart

I just can’t get enough of spinners! I got spinners on all my rides, and now I got a spinning top on EUR/CHF! The daily chart of this pair is showing a lot of potential for a reversal. A spinning top has formed right below the 1.3200 resistance level, which just so happens to intersect with a long-term falling trend line. With Stochastic already deeply overbought, you may want to keep tabs on this pair and wait for a bearish candlestick to close today because that could signal the start of a long drop!

NZD/USD: Daily

NZD/USD Chart

Looks like the tables are about to turn for NZD/USD. Good call on closing your NZD/USD long trade early, Happy Pip! With Stochastic showing a bearish divergence and price forming a spinning top at the top of the falling channel on its daily chart, the pair seems like it’s about to make a U-turn. If you think this pair is headed lower, the best thing to do is to wait for a bearish candlestick to close today. That means be on the lookout for a red marubozu guys! This could be headed all the way back down to the bottom of the channel!

EUR/USD: 4-hour

EUR/USD Chart

After its strong up move back in early march, it seems like EUR/USD has finally settled in a tight little range. As you can see from the pair’s 4-hour chart, price has found major resistance at a recent high and has even formed a bearish divergence! Does this mean we’ll see resistance hold? If you’re bearish on the pair, you could go for the bottom of the range around the 1.4050 region. On the other hand, if you’re part of the bull camp, wait for a candle close above 1.4250 for confirmation that the pair has broken out of its range!

  • Anonymous

    Pips investigator

  • pipsinvestigator

    Pips investigator…

  • Anonymous

    Pips investigator

  • pipsinvestigator

    Pips investigator…