Mixed signal.
This is EUR vs CAD weekly chart. Price is at a level of interest and formed a possible reversal pattern called Haging Man. Now we need to wait for a confirmation. I like the level and the potential for the short side, that's why this pair is listed this week.
NZD vs CHF
Mixed signal.
This is NZD vs CHF weekly chart. Price did break out of a range and did test the breakout level. The long upper wick shows resistance of higher prices. I prefer to see the long upper wick at a high. But here it confirms resistance. I do not like CHF pairs but this is listed here, because the level is cofirmed nicely.
EUR vs JPY
Mixed signal.
This is EUR vs JPY weeky chart. Price is at an interesting level and formed a Doji. This Doji appears as a reversal pattern, But I see the possbility that this Doji is confirming the support level of the broken high. There is still the possiblilty of a strong upward move and the Doji is just a consolodation. The weekly close will shed some light.
USD vs CHF
Bullish bias for the week.
This is USD vs CHF weekly chart. Price formed a Bullish Engulfing Pattern at support and made a close above parity. This is a bullish sign. However, I do not like the fact that there is a rather long upper wick, which confirms the decending Trendline. This pair formed a decending triangle. A decending triangle tends to break to the dowside. Not always but there is a tendency. This diminishes the outlook of the bullish reversal pattern.
GBP vs AUD
Mixed signal.
This is GBP vs AUD weekly chart. Price formed an Indecisin Candle the 1,75 level slightly below an untested resistance level. This may result in a reversal. Or we see price consolodating here and move higher after breaking out to the top side. We have a first break of a high, which is the first sign of a bullish trend. Price action suggests a pullback at least a pause. I am bullish this pair, but for the week I am rather on the sideline until I see something obvious.
Happy trading,
TT
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