A follow-up to my post about Gold possibly forming a double top and Dxy forming a double bottom, here is a view of the Dollar pairs as we head into NY. If there are Dollar bulls in the market after yesterday’s higher than expected CPI then wouldn’t they be looking to buy Dollar at these very prices? If you are a Dollar bear this is quite important as price needs to break these levels of resistance during this next trading session or we could see a complete reversal in the Dollar weakness of the past 24 hours.

EURUSD H4

Possible triple top

GBPUSD H4

61.8% of the double top

AUDUSD H4

Role reversal resistance and the line in the sand for bears

NZDUSD H4

Possible triple top

USDCAD H4

Role reversal support and the line in the sand for bulls

4 thoughts on “Dollar pairs as we head into NY”

  1. Wayne McDonell - TradersWay.com says:

    Just don’t force the trades… let the USD get strong first.

    1. Ryan Gandalf van Jaarsveld says:

      Thanks Wayne, exactly my thoughts – I am quite happy that these did not work out and that Dollar bears outweighed bulls. We still have a little way to go though MM1 for Dxy is quite likely after Dollar failed to come up off support yesterday. Let’s see how today goes.

  2. Katerina Cairns says:

    very nice work – if i may suggest uj is at good level to bounce

    1. Ryan Gandalf van Jaarsveld says:

      Absolutely – definitely a pair to trade if we have weak Yen and strong Dollar or visa versa. I call EURUSD, Gold and USDJPY the three sisters.

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