By Jonah S. Ford A nice technical breakout was spotted by Autochartist in the silver market early in Tuesday’s trading session. Following a prolonged move higher inside of a textbook Channel Up chart pattern, the price of the nearby silver futures turned lower to breach the trend line support and trigger the sell signal. As…

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The 4H USD/CHF chart shows a market that has found support at 0.9114 twice and is forming a double bottom. A completed double bottom coincides with an upside break to the declining trendline seen in the 4H chart. The latest 4H candle is very convincing for a bullish correction to the decline from 0.9593…

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The AUD/USD rallied from the 1.0525 pivot yesterday, staying in a rising channel (seen in the 4H chart), and advancing back to last week’s high near 1.0683. Failure to break above and a subsequent decline in the US session sets up a range between 1.0525 support and 1.0683 resistance, with central pivot near 1.06. The 1H chart shows the market testing the central pivot…

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The EUR/GBP is declining in the short-term falling from a wedge pattern resistance since Friday. The week started respecting the 1H 200 simple moving average as seen in the hourly chart, but is now cracking it heading into the 1/31 US trading session as well as making a new low for this week. A swing projection targets 0.8325 in the very short-term term (in the US session)…

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The NZD/USD had a very choppy day during the 1/30 US session, at the end of which there was a quick spike to the downside and an immediate recovery. In the 1H chart, this shows up as a double bottom. As we enter the 1/31 Asian session, the market rallies above this bottom and is looking to continue the uptrend. The short-term resistance is at 0.8248, last week’s high…

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By: Dima Chernovolov CHF/JPY has recently completed the Triangle chart pattern identified by Autochartist on the 4-hour charts. The overall Quality of this chart pattern is measured at the 4 bar level which reflects the following values of the individual contributing Quality indicators: low Initial Trend (rated at the 2 bar level), below-average Uniformity (4…

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The EUR/USD fell from 1.3233 to start the week, back to important levels that acted as support last week. Now this 1.0370-1.0380 support area is also reinforced by a rising channel support, which means the break below it will be even more significant. Also the difference between this test and last week’s is that the 1H RSI last week respected 40, and kept the bullish momentum, where today…

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