Daily Chart Art – August 8, 2013

USD/CAD: 4-hour

USD/CAD Chart

Who’s up for buying comdolls today? USD/CAD is having trouble breaking above the 1.0430 zone, which has served as a pretty solid support and resistance level for the pair. And check out the sweet bearish divergence on the 4-hour chart! A stop above the resistance would give you a good risk ratio if you think that USD/CAD is headed for last month’s lows.

USD/CHF: Daily

USD/CHF Chart

Who needs suspense movies when you got setups like these poppin’ up in your chart? USD/CHF is once again a jump away from the .9200 handle, which we know has served as a strong support level in the past. Will it hold again today? Make sure you brace yourselves and prepare for any scenario because the next couple of candles might be tricky!

EUR/JPY: Daily

EUR/JPY Chart

EUR/JPY‘s price action might be choppy on the lower time frames, but it’s as clear as crystal on the daily chart. The pair had just bounced from the 128.50 area, which lines up nicely with a previous low and the bottom of a long-term range. To my homies planning on trading this pair, you gotta remember that you’re trading a yen cross. That means making room for volatility and placing wide stop losses, yo!

To get the complete picture and avoid getting blindsided by economic data, you also have to do your fundamental analysis.

Lucky for us, Pip Diddy fills us in on what we need to know about fundamentals with his Daily Forex Fundamentals.