There is CNY, GBP and USD data to impact today and here are charts with new trend lines that I’m watching into this session. The US$ seems to be sitting on the fence whilst waiting for NFP. Trend line breakouts following yesterday’s post triggered on the EUR/AUD for 70 pips and the AUD/USD b/o moved up to 90 pips. There were also breakouts on the USD/TRY and USD/MXN following charts Tweeted during yesterday that gave up to 1,400 and 300 pips respectively.
USDX daily: the US$ is back up near the key 100 level and the bottom of the daily Cloud. Watch for any make or break of these levels to gauge the next directional move on the index as this has follow-on consequences for many currency pairs:
Calendar: watch for impact from these items:
Forex:
Gold 4hr: gave a trend line breakout but has now pulled back:
EUR/USD: the earlier 4hr based TC signal failed after 50 pips. There are the revised trend lines to watch with NFP:
E/U daily: and renewed US$ strength could weaken this pair and, if the trend line gives way, then I’d be looking back for another test of the 1.045 S/R level:
E/U 4hr:
EUR/JPY daily: still in the Flag here:
AUD/USD 4hr: this trend line breakout has given 90 pips thus far but price has stalled under the 0.77 level ahead of CNY and NFP data. The 0.77 is the level to watch for any make or break with NFP:
AUD/JPY 4hr: still in the Flag here:
Kiwi 4hr: a revised triangle here:
GBP/USD 4hr: revised trend lines here too:
GBP/JPY 4hr: and here too:
USD/JPY 4hr: a bullish descending wedge building?
GBP/AUD 4hr: revised trend lines here:
GBP/NZD: this trend line breakout and new 4hr TC signal failed BUT I had stressed this was likely to be choppy and, rather, to wait and watch for any weekly chart-based breakout. The same applies today.
G/N 4hr:
G/N daily:
EUR/AUD 4hr: this breakout triggered and also came along with a new TC 4hr SHORT:
EUR/NZD 4hr: a triangle in play here:
USD/MXN: I had tweeted yesterday to watch for any momentum-based trend line breakout. This was the 30 min chart from that Tweet:
The breakout evolved and gave up to 1,400 pips before chopping back higher:
USD/TRY: I had tweeted yesterday to watch for any momentum-based trend line breakout on this pair as well. This was the 30 min chart from that Tweet:
The breakout eventually gave up to 300 pips:
Keep an eye on the daily support trend line with the USD/TRY. Any break and hold below this support would have me looking for a test of the 3.10 region:
DAX 4hr: I wrote an article about the DAX yesterday but price still seems caught up in the 4hr triangle:
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