FX: Data lifts US$ & helps TC: By Mary McNamara

Whilst US PPI data didn’t reach expectation the fact it was higher than the last count helped to lift the US$. The US$ index has yet to reclaim the 92.50 resistance level though so, as suggested before, watch this level for any new make or break. However, the nimble nature of the short term TC trading system though meant that some FX reversal moves were harnessed for decent Risk/Reward trade gains.

Data: there is a lot of data today with AUD Employment, CNY Industrial Production, The SNB (CHF) and BoE (GBP) rate updates as well as USD CPI & Weekly Unemployment data.

USDX daily: watch for any make or break at the 92.50 level with today’s USD CPI.

TC signals: there were quite a few decent TC signals off the 15 min charts last session:

Oil 15 min: This TC signal gave 100 pips for a 4 R trade. The ADX wasn’t the best gradient but the continued Triggers helped with confidence here:

Gold 15 min: waiting until after the US data was released would have helped here to give a 1.5 R trade. There was a losing signal prior though:

EUR/USD 15 min: a 2.5 R trade here after the US PPI data:

AUD/USD 15 min: a 3 R trade result here with the first valid signal of the day:

NZD/USD 15 min: a 3 R trade here too:

Trend line breakouts:

GBP/JPY 4hr: now at 290 pips but watch the 147 level for any new make or break with today’s GBP BoE rate update:

USD/JPY 4hr: now at 80 pips:

AUD/JPY 4hr: stalled at 90 pips under the major 89 S/R level:

EUR/JPY 4hr: this gave 120 pips from the previous triangle but note the revised pattern below:

Other FX:

EUR/USD 4hr: gave 50 pips with the previous triangle break but note the revised pattern here now:

AUD/USD 4hr: ditto here. Watch the trend lines for any new breakout with today’s AUD and CNY data:

NZD/USD 4hr: watch the trend lines for any new breakout:

GBP/USD 4hr: watch the revised  trend lines for any new breakout with today’s BoE rate update:

GBP/NZD 4hr: watch the revised trend lines for any new breakout:

EUR/AUD 4hr: watch the revised trend lines for any new breakout:

EUR/NZD 4hr: watch the trend lines for any new breakout:

AUD/NZD 4hr: ditto:

Gold 4hr: I’m still thinking at least a test of $1,300 might evolve even if there is to be eventual bullish continuation:

Silver 4hr: watch the trend lines for any new breakout:

Oil 4hr: a breakout might be starting here?

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