Daily Chart Art – November 4, 2010


EUR/GBP: 1-hour

AUD/USD Chart

Feast yo eyes on this rising channel! EUR/CHF has been playin’ within a rising channel on the 1-hour chart, and my buddy Stochastic supports a possible downward move with its overbought signal. If we sellers come back in force, they could drive the pair to the support levels at.8735 and .8700. On the other hand, if the euro bulls keep at it, we may just see a break of the channel and move up to the .9000 handle.

EUR/CHF: 1-hour

AUD/USD Chart

Pop those bottles in the ice because this one here is feelin’ fly like a G6! EUR/CHF has been dancin’ to the beat of the rising trend line in the 1-hour chart. However, Stochastic might announce that it’s last call, as it is showing oversold conditions. Will the pair go all the way up to resistance at 1.3823, or will it end the party by falling to the previous support at 1.3663?

EUR/JPY: 4-hour

AUD/USD Chart

Lastly, let’s take a spin and take a look at EUR/JPY! Earlier this week, the euro bulls decided to break the bears hearts by ripping through a falling trend line. With Stochastic in overbought territory, could we see a pullback soon? We may see potential support at 113.75, which served court as a resistance point in the past. On the other hand, if buying pressure is too strong, we could see the pair rise back up and test former highs at 115.50.