1.2978 is the 1/2R off the August low. GBPUSD is currently printing just bove this level in a stronger position – can it hold it? GBPUSD daily chart 2nd November
GBPUSD in weak position
GBPUSD is in a weak position below the minor half range off the August low – suggests that low will be re-tested.
EURUSD in weak position
EURUSD is in a weak position below the minor half range off the August low suggesting that low will be re-tested.
Dollar Index in strong position
Dollar Index has formed a higher low at major Support.
Forex Charts 19th October 2018
GBPUSD remains in a weak position
GBPUSD just probed above the major controlling price at 1.3200. This was quickly rejected keeping the chart in a weak LT location. Monitor price relative to 1.3200. Price printing time above that level would put the chart in a stronger position. Speculators (leveraged money & asset managers) remain net short.
$USDJPY breaking down
$USDJPY breaking down: The major controlling price at 113.70 was resistance for months which kept USDJPY in a weak LT location. Chart has now broken below the 1/2R off the 2016 low (dashed line) which further weakens the price location.
USDJPY fails at Resistance twice this month
USDJPY: two failed probes into the 113.70 maj poc Resistance this month and chart is down from there.
Dollar Index weak chart 29th December
Dollar Index: in early July chart broke below 95.50, the major poc = weak LT price location. Has this week broken below the 1/2R off the Sep low and has today printed its lowest level since September.
USDJPY approaching Resistance – 8th December
USDJPY approaching Resistance – 8th December