Charts, 2012 – Week 33

In Charts on August 12, 2012 at 4:44 pm

A collection of weekly charts that I am looking at in advance of the 33rd week of 2012.  Beware August, summer doldrums, Olympics, light volume, etc.




4. Silver

5. USDJPY 4 hour chart

More charts below including: USDCHF, USDCAD, GBPCHF, GBPAUD, EURUSD, EURGBP, AUDJPY, Gold





10. EURUSD weekly

EURUSD daily

11. EURGBP weekly

EURGBP daily


13. Gold

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A word about the charts: On Sundays I tend to look at weekly OHLC bar charts and watch for three things: classic chart patterns, channels, and support/resistance.  If nothing jumps out at me, I look at weekly moving averages and crossovers, candle charts, bollinger bands, etc.  I post a few that seem most relevant to me. I don’t necessarily trade based on weeklies, but they help me understand context.  I am always amazed how insignificant 300 pip moves look on a weekly chart.

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  1. interesting round bottoming pattern on usdjpy…I have been watching it, but also got concerned when it broke to the downside….Lets see if sellers will follow through, if they fail to follow through, it will be a good buy. Sellers has formed a R level at 78.40…if we break that to the upside, it would have been a false breakout…and it will be a very good buy.

  2. 78.40 has been broken and we have seen a strong move up since then. I took a long when the minor S at 78.30 held, I will be looking to add more if price comes back to retest 78.40s zone. We have a level at 78.60s that has been used several times as resistance, but now i think we might easily break through.

    • yes, right back into the pattern, very interesting. Short term it is above the hourly 200SMA but right at the 4H 200SMA. Break and hold above 79 is likely in my opinion (notwithstanding August, light volume, etc).

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