I’ll add the rider that momentum-less markets don’t trade well technically but some of these formations are of the longer-term variety and therefore more relevant.
- AUD/JPY has a potential double-top on the daily chart, and any retracements are likely to run into plenty of interested sellers.
- USD/CHF has an imperfect double-bottom formation in that the neckline was broken. There is chart resistance close by at .9040 and if this holds, we could see a pull-back towards .8850.