Currency Charts This Week

Currency Charts This Week

Where will these currencies likely go this week?

Currency Charts This Week
Currency Charts This Week Pixabay Images

AUDUSD

The daily AUDUSD shows that price is at an ATR (red plus sign) and the six-hour chart shows that the prior ATR level did not offer resistance.  This indicates a potential move to the upside.  However, the Stochastics is indicating that the market is potentially overbought so waiting for a retracement to test for support would be a wiser move. 

AUDUSD Daily and Six Hour ChartEURUSD

The daily EURUSD chart shows that price has tested the ATR (blue plus sign) and a bullish bar developed afterwards.  This indicates a potential move upward to 1.1432.  The only issue is that the six-hour chart is non-confirming and has potential resistance areas overhead around the 1.1350 area.  Waiting for price to break through these areas and then a retest for support would be a wiser move. 

Currency Charts This Week - EURUSD daily and Six Hour ChartsUSDCHF

The USDCHF daily Stochastics is indicating that the market is potentially oversold.  Additionally, the ADX (at the bottom of the daily chart) is indicating that a retracement is likely up to the red ATR (around 1.0020).  Going down in time to the six-hour chart, price has broken through the fast moving average and tested for support, which was found.  However, price must now break through the remaining resistance areas before it can continue the daily retracement.  Traders would be wise to watch the six-hour chart to see if these areas resist price or allow it to move up.

USDCHF Six Hour and Daily ChartUSDJPY

The daily USDJPY chart shows that the Stochastics is potentially oversold and the ADX is confirming a potential retracement is likely.  Similar to the USDCHF, the six-hour chart is showing that price has broken through the first level of resistance (fast moving average) and has tested for support, which was found.  However, there are still resistance areas remaining and price will need to break through these areas and retest for support before price can continue its upward move.

USDJPY Daily and Six Hour Charts

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