Cleopiptra

For traders who have been watching the trio of intraday lows along 1.2141 (S1), 1.2143 (S2), and 1.2175 (S3) on the EUR/USD, the wait may be over:..

The US Dollar Basket has moved lower on the 60-minute chart as the Dow Jones is still weak but has significantly pared back the losses seen earlier in Tuesday’s trading session. The Dow’s mid-morning recovery has slowed the pace of US Dollar buying.

The US Dollar reached an intraday high of 87.21 before pulling back steadily into the latter half of Monday’s New York trading session.

The AUD/JPY is poised to test 83.00 once again following buyers being rejected at the resistance waiting between 84.75 and 84.50. The weakness of the AUD/JPY reflects the weakening of the Australian Dollar versus the Japanese Yen.

After a down day in the crude oil and lumber markets, strength in the U.S. Dollar, and an entire session where the Canadian Dollar lost ground against the U.S. Dollar, the USD/CAD seems to have found a near-term intraday top.

The 15-minute GBP/USD’s short-term intraday chart indicates that strong near-term resistance is waiting for any bulls thinking about rallying this pair higher through 1.5300 during the coming week.

The AUD/USD has reached an intraday double-top, with prices now exhausting between 0.9288 and 0.9292. This caps what has been a strong two-day rally in the AUD/USD, with the Australian Dollar strengthening against the U.S. Dollar.

Understanding when breakouts and continuations may occur is essential to trading a trending pattern. The market cycle as indicated by Initial Trend reading on the chart alert will indicate whether a continuation or breakout is more likely…

The pattern alert on the GBP/USD’s 15-minute chart offers an interesting analysis of current price action, beyond the breakdown of the Channel Down pattern…

The USD/CAD has broken the Channel Up pattern’s support on the short-term 15-minute intraday time frame. The short time frame indicates near-term weakness…