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Every good chart analysis should start with a bigger picture view and by identifying the most important price levels. In this article, I have selected the 11 most important charts right now.
The USD Index dipped into a big demand zone end of last week. So far, it looks like the buyers are stepping in at the lows. However, the current Daily candle is turning bearish again.
Keep in mind that it’s also FED week and news may lead to significant price fluctuations.
The USD/NOK is currently breaching the big demand zone that was the origin of the last major uptrend.
With the USD bearishness, it seems possible that the price may break into fresh lows and extend the massive sell-off.
The NZD/SGD is trading into previous resistance. The price action shows a significant bullish rally on the Daily chart. Just above the current resistance level another major resistance will be waiting for the price if the breakout is successful.
Gold is still trapped in...
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