FX ahead of BoE & NFP: By Mary McNamara

The US$ is still holding above 92.50 support ahead of Friday’s NFP but it is the GBP pairs that are in focus with tonight’s GBP data. Yesterday’s trend line breakout trades have continued to yield pips.

USDX: watch 92.50 for any make or break:

Trend line breakout trades: the updated pip tally is below but check out the weekly charts (where shown) for major S/R zones and Fibonacci levels as many of these embark on their mean reversion pathways:

EUR/JPY: now 80 pips:

NZD/USD 4hr: now at 80. Watch for any test of the 61.8% fib:

GBP/AUD: now at 220 pips. Watch for any test of the 61.8% fib:

GBP/NZD: now at 360 pips

EUR/AUD 4hr: now at 220 pips. Watch for any test of the 1.50 S/R level:

EUR/NZD: now at 240 pips and watch for reaction at the 1.60 S/R level:

Others:

GBP/JPY: this is the main GBP pair in focus for me with tonight’s batch of GBP data including the BoE rate update. This is due to the symmetry of the 4hr trend lines and the proximity of the monthly bear trend line just near current price action. Note also the major 147 S/R level and how this is very significant on the monthly chart time frame:

EUR/USD: revised 4hr chart trend lines here and note the two great 15 min TC signals here although there was one loss as well:

EUR/USD 4hr:

EUR/USD 15 min:

AUD/USD 4hr: keep an eye on the 0.80 level:

AUD/JPY 4hr: watch this if stocks dip!

GBP/USD 4hr: watch with BoE:

USD/JPY 4hr: messy but is that a bullish wedge forming up?

CAD/JPY 4hr: a Bull Flag?

USD/CAD 4hr: time for some reversion here too?  Watch the upper trend line:

USD/CNH 4hr:

USD/TRY 4hr:

Commodities:

Gold 4hr: getting squeezed towards the apex here:

Oil 4hr: a bit of a 4hr triangle after the daily triangle  breakout:

 

 

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