Forex Chart – Nov 20, 2015: AUDCAD, EURGBP, GBPJPY

AUD/CAD

Looks like the price on AUDCAD already broke the daily resistance level. The recent trend on this pair still shows upward momentum and broke an important level. This level held as a strong resistance level in the past and for now I marked this level as the new support level. What I will do for now is waiting for the price to retest the old resistance/new support level and start hunting for a bullish signal at the intraday chart, like the 4-hour chart shows below. If the price keeps grinding higher, I still keep watching this level on the daily basis.  

AUD/CAD daily chart

AUDCADDaily-151120

AUD/CAD 4-hour chart

AUDCADH4-151120

EUR/GBP

The EURGBP has been moving down steadily on the daily and a key support level has recently broken through. Price starts to pullback to this new resistance level. I have my eyes watching on the intraday, where we can see pullback occur and a clear level to look to trade from. An obvious bearish price action would be a good signal to go short.

EUR/GBP daily chart-zoom out

EURGBPDaily-151120

EUR/GBP daily chart-zoom in

EURGBPDaily-151120-zoom in

EUR/GBP 4-hour chart

EURGBPH4-151120

GBP/JPY

Just like EURGBP, this is another example about a clear break through the key level. Price on GBPJPY has been broken through the key resistance level. A clear flip zone, with the resistance levels now become the new support level, has appeared. Logically, a pullback could well be in the works. The daily pullback will be too shallow to trade yet the intraday, like 1-hour or 4-hour chart, could well work in this pair.

GBP/JPY daily chart

GBPJPYDaily-151120

GBP/JPY 4-hour chart

GBPJPYH4-151120

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2 comments

  1. baguzmag · · Reply

    I will wait in open markets and see where the audcad go..

    Like

    1. yup… I will wait also.

      Liked by 1 person

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