Pattern RadarThe intraday downtrend across the 30 and 60 minute charts has been slowing as Asia approaches. The Monday session for the USD/CHF showed the franc gaining on the dollar throughout the session due in no small part to an inactive Swiss National Bank. The pause now offers a chance to consider what the next move for the pair will [...]
One of the most powerful Quality Indicators associated with every Autochartist update is the Initial Trend reading. It is one of the most distinguishing facets of Autochartist. The Initial Trend reading allows each chart pattern to be analyzed within the context of the underlying market cycle. The 30 minute Reversal Channel Up pattern on the EUR/USD has a broken the [...]
The GBP/USD has formed two downtrending patterns on the shorter term intraday timeframes. The 15 and 30 minute charts have alerted a falling wedge and channel down pattern respectively. Let’s take a look at the 15 minute chart with the Continuation Falling Wedge.
The pattern shows the resistance currently holding the downtrend in place. However not [...]
The GBP/USD has rallied to make a triple top as prices are once again being rejected by the 1.6550 ceiling. The Continuation Channel Up Emerging pattern is a wide pattern but it shows some very important clues about what could be coming next for the pair known as the “cable”.
Notice that prices has exhausted at [...]
The GBP/USD has formed a Rising Wedge Emerging Pattern alert which with the current uptrend could have the potential to test 1.6380. The Initial Trend is low and that is partially due to the fact that prices, since the European open, have begun to congest below the 1.6350 psychological level.
This ceiling is currently being balanced [...]
With the USD/CAD fresh off its resistance at the 1.1724 to 1.1685 ceiling, the short term intraday time frames like the 15, 30, and 60 minute charts have transitioned to a downtrending market cycle. The U.S. Dollar Index has been trending lower since the Asian session and the crude oil market has rallied off the [...]
The U.S. Dollar has broken uptrend line support again and is sitting on the vital support level that will likely determine whether the weakness will continue. As the dollar finds buying support at the 84.50 area the USD/CHF has been trending lower as the franc strengthens against the dollar.
The Continuation Falling Wedge pattern alert reflects [...]
The USD/JPY is trending lower even though the U.S. Dollar is stronger this morning. Taking one look at the Dow Industrial Average pointing to a lower open is giving yen buyers reason to keep buying as well as the underlying worry of the swine flu spreading.
The Continuous Channel Down pattern alert on both the 30 [...]