FX has been relatively quiet ahead of the ECB and BoJ rate updates scheduled for later in the week. The miss with NZD CPI got things moving a bit just now though. There are the RBA Monetary Policy Meeting Minutes, EUR German ZEW Economic Sentiment, GBP CPI & a BoE Carney speech plus NZD GDT Price Index data to monitor today.
USDX: trying to hold above a recent support trend line and managing to do so for now. I’d expect a test, at least, of the broken 95.50 anyway.
Trend line breakout trades:
EUR/NZD: there was a bit of a breakout that started yesterday but this has been helped along just now by NZD CPI to the tune of 160 pips:
E/N 4hr: the chart from my w/e update:
The 4hr chart today:
E/N 15 min: this trade had given a choppy move of up to 2R before the NZD CPI boost:
EUR/AUD: this has given a bit of a bounce off the recent double bottom support for about 55 pips. There was a new TC 15 min LONG here too:
E/A 15 min: up to 3R out of this move that I know one TC Trial member caught some of:
Other Forex: watch the following for any momentum-based trend line breakout trades:
GBP/USD 4hr: watch with all of today’s GBP data:
GBP/JPY 4hr: ditto:
GBP/NZD 4hr: watch for any continued breakout here and, especially, the multi-month bear trend line:
USD/CNH 4hr: watch for any move down to test the daily support trend line: