$EURUSD and $GBPUSD before Asia

kevinmhughes

For the $EUR: that wedge is getting tighter & tighter.  There was absolutly NO action during NY (US) trading today when it comes to the $EURUSD pair.  The red levels high lighted in the chart would be a create confirmation of a break out in the wedge.  The black levels would pose a problem for the $USD (to the upside) or to the $EUR (to the downside).  I believe we see a break down in the $EURUSD during Asia based on the wedge.

EURUSD b4 Asia

As for the $GBP: If it breaks through the bull flag it has formed on the 30 minute chart below, we could a nice run to the 1.6400 level.  I don’t believe that is going to happen.  I don’t see the strength for the $GBPUSD to shoot higher; it will probably (I believe) bounce off that resistance and head below the support (black levels on chart) – the red circle is the bull flag and where you could see where it had a nice run earlier in NY trading.

GBPUSD

You can also check www.kevinmichaelhughes.com for other analysis of some ‘non major’ pairs.


Tickers: , , , , ,

blog comments powered by Disqus

  • Lydia IdemLydia Idem has been investing in equities for 16 years and trading currencies actively for 5 and a half years. Her trading style is simple and short term. With a special feel for sterling, Lydia trades almost exclusively the GBPUSD and EURGBP. (more)

    You can follow Lydia on Twitter and StockTwits

  • Stay current with news and updates

    Subscribe
    via RSS
    Subscribe
    via Email

  • Sign up for your FREE Daily Goodness e-mail delivered each morning with the latest investment news.

    Which update would you like to receive?

    Overheard on StockTwits

    Chartly Technical Knockout

    AR Energy

    Macro Weekly

    AR Options

    The official StockTwits™ newsletter

  • Archives