The lack of economic news has translated into little movement with most currency pairs on my radar. There were a couple of great TC 15 min signals during the Asian session though; one on Silver for 4R and another on the ASX-200 for 6R but, apart from that, most technical patterns on other currency pairs remain intact. Friday is another quiet day for scheduled economic data and so I’m not expecting too much to trigger although the batch of second tier EUR PMIs could produce some movement in this relative vacuum. The bad news? There isn’t much on the economic calendar for next week either!
There haven’t been many TC signals triggering with trend line breakouts and I suspect this may be a symptom of developing summer ranging markets.
USDX: this is currently printing a small bullish weekly candle but remains below resistance from the weekly Cloud, the psychological 100 level and also a recent daily-chart bear trend line. It has some work ahead of it to carve out any bullish momentum.
USDX weekly: still below the weekly Cloud and previously broken trend line:
USDX daily: a bullish descending wedge?
ASX-200: I Tweeted yesterday morning about this new LONG signal on the ASX-200 just shortly after the signal had triggered. This was the 15 min chart from that Tweet:
The bullish ASX-200 move continued until market close for the index and gave a trade worth 6R!
Silver: In my blog update yesterday morning I suggested to watch Silver for any bounce up from the bottom trend line. This was a very well timed suggestion as a new TC LONG signal triggered just after this update and gave a trade worth 4R: