Forex Analysis

Currency strength and weakness analysis based on 4h performance

GBP, EUR, CHF and JPY not really going anywhere as yet this morning.
USD picking up a bit after sideways movement.
NZD wanting to continue with strength after it started this morning negatively.
CAD a bit sideways after substantial losses.
AUD rapidly losing strengths this morning.

Current daily trends

AUDCHF, trend intact although volatile on 4h charts
AUDNZD, trend intact
AUDUSD, trend intact it gapped down this morning
CHFJPY, trend intact with a break on the 4h triangle
EURAUD, trend intact it gapped up this morning
EURJPY, trend intact
GBPAUD, trend confirmed
GBPJPY, trend in jeopardy and we see that there is a serious resistance level with the flattop triangle still in place
GBPUSD, trend confirmed
USDJPY, trend intact

Possible signal today and tomorrow

AUDCHF, on the break of the last low
AUDNZD, don’t like the long wicks as it is a sign of indecision
CHFJPY, on the break of the last high (close above)
EURAUD, beware that the market does not close the gap
GBPAUD, on increased momentum
GBPJPY, on increased momentum
GBPUSD, on increased momentum

Looks like we are seeing some action again however be aware that this time of the year it might seem like there is volatility with lots of activity but this can be caused by institutions making the liquidity very limited, not ideal for us retail traders.

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