Charts worth noting by Mary McNamara

I am away at the ATAA annual conference but I’m posting a few charts that I think are well worth noting. The real reason for this is because I didn’t have anyone to have a drink with in the free hour before dinner :-(

USD weekly: this chart is starting to suggest that a deeper pull back could be in store. We’ve had a break and hold below the Double Top ‘neck line and now a break below a weekly support trend line. A hold below this support would suggest continuation. A bearish target would be the 61.8% fib as that is also down near the monthly chart’s triangle breakout:

USDXweekly

USDX 4hr: 95.50 is now resistance:

USDX4

EURX 4hr: the 50% fib and 4hr 200 EMA acted as decent support:

EURX4

EURX daily: now watch for a test of the daily 200 EMA:

EURXdaily

BearMarketTruncation

FX Index alignment: the EURX and USDX are back to being aligned for Risk On. The USDX is below the Cloud on the 4hr and daily time frame and the EURX is above the Cloud on the 4hr and daily time frame.

S&P500 daily Cloud: the bearish Tenkan/Kijun cross is still open but price is still above the Cloud. Watch for any new bullish T/K cross:

S&PdailyCloud

Silver: has made a bullish triangle breakout on the weekly chart and is trading above the Cloud on the 4hr and daily charts:

SLV weekly: a bullish triangle breakout:SLVweekly

Silver 4hr: the TC signal continues to gain here now up 70 pips:

Silver4hr

Silver weekly: a bullish weekly candle close above the bear trend line. A monthly close above this trend line would be more convincing though:

SilverWeekly

Gold: has made a daily triangle breakout so watch for channel trend lines next. Gold is trading above the 4hr Cloud and at the top of the daily Cloud. Any breakout from the daily Cloud could trigger a bullish run here:

Gold daily: daily triangle breakout:

GoldDaily

Gold weekly: channel trend lines might be next:

GoldWeekly

Gold Mining ETF: GDX: looks like the start of a bullish breakout:

GDXweekly

Forex:

EUR/USD: the daily and monthly charts suggest a test of the key 1.18 level could be on the cards:

EUdaily

EUmonthlyCloud

EUR/JPY: this has made a close above the daily 200 EMA which is bullish:

EJdaily

A/U 4hr: has held above 0.80 which is bullish:

AU4

A/J 4hr: has made a weekly close above 96 which is bullish:

AJ4

Cable weekly: I had mentioned a few weeks ago that 1.60 might be a target and I’m still thinking this. The H&S looks void here now:

GUweekly

Kiwi 4hr: is struggling at the 61.8% fib, monthly pivot and 4hr 200 EMA:

Kiwi4

U/J daily: I’m still waiting for a breakout from this daily chart pattern:

UJdaily

EUR/NZD: this continues to be choppy around the daily 200 EMA. With FX index alignment this choppiness might continue!

ENdaily

GBP/NZD monthly: price is holding above the key 2.10 for now. A monthly close above this level would support continuation. Price could be choppy here too until the end of the month:

GNmonthly

GBP/JPY: any hold above this wedge breakout AND above recent highs for the monthly candle close suggests the start of a possible lengthy rally!

GJmonthly

VIX weekly: a bearish weekly candle and below 14:

VIXweekly

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