FX movement has been fairly limited ahead of the much-anticipated FOMC and I suspect this uneasy-quiet might continue until the data release. Trend traders might be wise to wait until after this news item before trying to catch any decent new trend trade.
Data: The key event is FOMC but there is also GBP Retail Sales and EUR German PPI data worth keeping an eye on.
USDX: didn’t get much of a boost from last session’s upbeat USD data! Watch the Flag trend lines and 92.50 for any new breakout:
USDX weekly:
USDX daily:
EURX weekly: still shaping up as a Bull Flag for now but watch trend lines with FOMC:
Trend line breakout trades: just one new trade for the day:
AUD/JPY: just 45 pips but back above the key 89 level and there was a choppy TC signal for just 1R at this point:
A/J 4hr:
A/J 15 min:
EUR/JPY: now at 130 pips. Watch the major 135 level with FOMC as this is the weekly chart’s 61.8% fib:
EUR/JPY 4hr:
EUR/JPY weekly:
USD/JPY 4hr: now at 100 pips but watch the 112 level for any new make or break with FOMC:
USD/TRY 4hr: now at 650 pips but now watch the upper trend line:
EUR/USD: gave a bit of a breakout and a 2R TC signal but is pegged by 1.20 S/R ahead of FOMC. Note the revised 4hr chart trend lines.
EUR/USD 4hr:
EUR/USD 4hr: revised trend lines:
EUR/USD 15 min: a choppy TC signal for 2 R:
Other FX: watch the trend lines on the following technical patterns for any new breakout:
AUD/USD 4hr: back above the 0.80 level:
NZD/USD 4hr:
GBP/USD 4hr: consolidating near 1.35 S/R. Watch with GBP Retail Sales and FOMC:
GBP/JPY 4hr: consolidating near 150 S/R:
GBP/AUD 4hr: consolidating under 1.70 S/R:
GBP/NZD 4hr:
EUR/AUD 4hr: back consolidating under 1.50 S/R:
EUR/NZD 4hr:
AUD/NZD 4hr: consolidating near 1.10 S/R:
USD/CNH 4hr:
USD/MXN daily: a long period of sideways activity here but should eventually breakout:
Commodities:
Gold 4hr: watch trend lines and the $1,300 level for any new make or break:
Silver 4hr: holding above the daily 200 EMA:
Oil 4hr: watch the upper triangle trend line:
