I am still having technology issues and also busy preparing to head away on Saturday for 4 weeks of trading over seas. However, it doesn’t seem I have missed too much with Forex as the same trend lines, ones that I have been highlighting for some time now, still seem to be in focus. The usual drill applies here: watch for any trend line breakout that evolves with supporting ADX and DMI momentum. There are a few speeches tonight from the ECB President and a few Federal Reserve members so watch to see if one or all of these fuel any breakout here.
USDX daily: still range bound here in the triangle and daily Cloud:
E/U: sitting right on top of the key 1.12 level and still within a triangle:
E/U 4hr: note the triangle:
E/U monthly: note the importance of the 61.8% fib level at 1.12.
A/U 4hr: testing the major 3 1/2 year bear trend line:
A/J 4hr: still triangle bound here between 75 and 80:
Cable 4hr: either one very stretched triangle or a potential Double Bottom off 1.28:
Kiwi 4hr: adjusted trend lines but still much the same picture of consolidation under o.74/0.75:
U/J 4hr: either a triangle or potential ‘Double Bottom’ make or break level off 99 looming?
GBP/JPY 4hr: either a triangle suggesting a Bear Flag or a potential ‘Double Bottom’ make or break level off 129 looming?
USD/CAD 4hr: still within the long term wedge: