Some Daily charts from last weeks presentation

I was delivering a presentation for a broker client last week which included some market analysis and thought I’d put up a few of the charts I talked about here.  It will be interesting to see whether today’s NFP figures will make a blind bit of difference to the markets.  We shall wait and see.  So in no particular order or priority here are a few charts to cast your eyes over:

AUDUSD Daily:

After a prolonged down trend early in the summer AUDUSD bottomed out and even created a very nice double bottom pattern before moving north. It created a nice 1-2-3 pattern and has recently hit the daily 200MA.  We shall wait to see if the 1-2-3 turns into an AB=CD pattern.

Nikkei Daily:

After the terrific run up from November 2012 the Nikkei (unsurprisingly like the Yen crosses has just gone side wards creating this rather good-looking triangle pattern. Classical TA would have you believe that the next move should be up and certainly price is at the upper edge of the trend line. I shall wait and see where this goes before taking any kind of trade.

EURUSD Daily

The USD has been hit hard across the board (see AUDUSD chart) and this (along with some supposed good Euro news) has propelled EURUSD back towards the yearly highs around the 1.37 handle. Lets wait and see if NFP will give the currency the boost to get itself to new highs for the rest of the year.

USDJPY Daily

Not surprisingly the USDJPY chart is not to dissimilar to the Nikkei Chart (see above) price has been consolidating into a triangle pattern and we await to see if it will burst out of here. I suspect some people may have thought that it poked its nose out the bottom edge last week, but quickly returned in the triangle on a false break-out.  I wonder how many sold on that? And i wonder how many bought on the false breakout? 😉

So there you have it. A few interesting and correlated charts that I shall be keeping my eye on over the next few days and weeks.  Will today’s NFP give the markets the shove they’re looking for?  I have no idea. As always we trade what we see, not what we think.

Trade Well!

Paul