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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 58% of retail investor accounts lose money when trading CFDs with this provider.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 58% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Technical Update - Bigger picture: AUDUSD, EURAUD, EURGBP, EURUSD , GBPAUD, GBPUSD & USDCHF

Forex 4 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank Group

7 FX pairs with interest pattern development. Medium to longer term view. All weekly charts.

AUDUSD: Falling Wedge breakout testing 0.618 Fibo level . If breaking above price could extend to 0.800

AUDUSD w
Source: Saxo Group

EURAUD: (Descending) Triangle like pattern which seems to be the right complex Shoulder area in what looks like a Complex Shoulder-Head-Shoulder pattern. Break out has reached 0.50 Fibo Extension. Not unlikely to test 0.618 Extension and strong support at around 1.44.

EURAUD W
Source: Saxo Group

EURGBP: Trading in a falling channel. 0.8200-0.8250 seems to be strong support area. . Bullish break out of falling trend could push EURGBP to 200 weekly SMA and top of start of channel around 0.87

EURGBP w
Source: Saxo Group
EURUSD. After reaching Double top target at around 1.12 EURUSD continued its downtrend below 1.10 currently trading around the big consolidation area 1.0750 - 1.1150. EURUSD could be range bound here for some time. 
EURUSD w
Source: EURUSD
GBPAUD: A complex Shoulder-Head-Shoulder like pattern that seems have been confirmed. GBPAUD is currently below Neckline but there is strong support around current levels.  0.618 extension of the Head to Neckline distance is at around strong support and 2016 lows at around 1.535.

GBPAUD w
Source: Saxo Group

GBPUSD: Double Top pattern unfolded and target reached. However, bear trend not unlikely to continue towards 1.2750-1.2675  - after a likely correction where GBPUSD could test upper falling trend line in the channel. 200 Weekly SMA offers some support  

GBPUSD w
Source: Saxo Group

USDCHF: Forming an Ascending Triangle like pattern. Wait for break out direction. Strong resistance at 0.9550. Bullish break out likely target is 1.00. Resistance at 0.99. Bear break out, likely price target lows of the triangle i.e. around 0.8740.

USDCHF w
Source: Saxo Group

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