Daily Forex Chart Art – Mar. 19, 2014

EUR/AUD: 4-hour

EUR/AUD 4-Hour Forex Chart

EUR/AUD 4-Hour Forex Chart

Let’s start with a sweet divergence setup on EUR/AUD! The pair is having trouble breaking below the 1.5250 area since it lines up nicely with a rising channel support on the 4-hour chart. Not only that, but there might be a bullish divergence in the works too! A stop just below the rising trend line could get you a sweet risk ratio if you think that the euro will reach the 1.5550 area against the Aussie.

EUR/GBP: Daily

EUR/GBP Daily Forex Chart

EUR/GBP Daily Forex Chart

Not a fan of the euro? Here’s one for ya! EUR/GBP is currently testing the .8400 area, a falling channel resistance on the daily chart. Stochastic is also on the bears’ side with its overbought signal. Waiting for a couple of bearish candlesticks or Stochastic to drop from the overbought territory is a good play for this setup in case the bulls succeed on breaking above the channel after all.

AUD/NZD: Daily

AUD//NZD Daily Forex Chart

AUD//NZD Daily Forex Chart

Somebody holler at Happy Pip because this comdoll setup is too good to miss! AUD/NZD is consolidating at the 1.0550-1.0600 area, which is right smack at a previous support. Will this hesitation lead to a range support play? A wide stop below the support zone could get you a good reward-to-risk ratio if you’re planning on buying the pair all the way to the 1.0900 psychological area.

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.

  • Charts worth seeing. Thanks

    • Big Pippin

      You’re welcome. Thanks for checking out my blog!

  • Chuks

    EURAUD as well as GBPAUD failed to close above their distribution levels that would have (in my case) seen the bulls retake proceedings. I think we are in for some serious retracement play on both pairs. I chose EURAUD and shorted off 1.5284 hoping to catch the 61.8fib retracement of current bullish swing handle. I will be risking just above yesterday’s high. If you are right and bulls take over, I will be spanked! If not, hopefully, I bank

    • Big Pippin

      Looks like you’re up by a couple of pips. Where’s your profit target on this one?

      • Chuks

        1.50 first, then 1.47.
        Will be looking out for a bullish signal at that level for long term bullish continuation play. The status of my current play is deep retracement. So I will be employing the fibs. I am ultimately playing for the 50/61.8 levels

  • manhar

    best ferd foerx sepot

    • Big Pippin

      Thanks. Do you have any open positions this week?

  • can

    EURAUD had a big H&S with neckline around 1,5050.

    Long term target around 1,42 also AUDUSD has inverse H&S with the neckline around 0.9080 target of 0.95

    • Big Pippin

      Thanks for sharing these setups! I’m definitely gonna keep my eyes locked on those.