Weekly Trend Lines (Beware!)

There are several major trend lines to consider on the Weekly Charts:

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  • JJ

    I enjoy your analysis,I believe you do a great job. Thank You

  • Paul

    Thanks Nathan

    I only signed up for your daily analysis this week and so far I really like what you are doing

    I am not so confident that AUD USD is ‘ready’ to go short, particularly after today’s very bullish daily candle, located within the very large bullish daily candle for the first day of 2013

    I would like to see price action candle(s) on the daily and / or 4 hour time-frames that very clearly reject higher levels, at around 1.06 00 / 1.06 30 before considering placing an order to short this pair

    I do have a tentative long position running on the EUR GBP @ 0.81 15, with a target of 0.82 00 (the 4 hour set up offered a risk reward of 2, which met my minimum criteria, with out having to break out to higher highs). Again I am not convinced of the potential for a break out higher, as this level is a significant Support & Resistance level (base of the 2011 down move; confluent with the 61.8% re-tracement of the 2012 range; and it’s 50% of the 2007 / 2008 move)

    Have a great weekend and thanks again

  • John Hunter

    Great analysis as usual Nathan. Just one thing I noticed that you didn’t mention was on the EURAUD
    chart, resistance at 2011-01-09, 2011-07-31, 2012-03-25, 2012-09-30 also at 2012-12-23 forming a rising triangle with the rising trend line. What do you think?
    Regards John

  • Dean Brenner

    Nathan, Well done coverage on your chosen pairs. References to trend lines and other structure clearly support the possibilities you point out. The timing of viewing the weekly chart at weeks end I see as a good primer to the upcoming week. Than you

  • Grey

    Thanks nathan for sharing your insight i def agree with focusing on wkly charts for trend direction. Is the reason for jpy weakening against alot of currencies because of quantitive easing by bank of Japan ?

  • Phil..

    Thanks Nathan, and also to Casey for the Copier Webinar this morning.
    I was able to make some nice gains this week of the Gbp/Usd shorts I took after the large pinbar reversal candle on the 4 hr Wedensday.
    Also hoping for more moves to the upside on the Gbp/Cad next week .
    Trailing stops after each leg of the move to lock in profits seems to be working well
    2013 is up and running some nice setups already, Great..

  • Nizar

    Thank you Nathan …. That was great specially about the AUD/USD and USD/JPY

  • Thanks

  • nisar

    it was a great analysis based on weekly chart. gave us a different angle to think. thanks again