FX: still messy at End of Month: By Mary McNamara

There has been a bit of FX movement last session, on the back of a strengthening US$ following the Fed Chair Powell testimony, but the moves have been rather messy and conditions may remain as such with any End of Month flows. Watch also today for ANZ Business Confidence, USD Prelim GDP & Crude Inventories as well as EUR Flash Estimate CPI data. The Yen pairs remain in focus as does Bitcoin as traders watch to see whether it can close above the all-important $10,000 level for February.

USDX daily: price has broken to the upside so watch for any attempt to push up to the 61.8% fib near previous S/R of 92.50:

Trend line breakout and TC signals:

NZD/USD: this has been the most obvious trend line breakout and this also gave the clearest TC signal:

NZD/USD 4hr: 50 pips but watch today with ANZ Business Confidence data:

NZD/USD 15 min: a 60 pip and 2 R signal here:

Gold 4hr: a messy drop for 100 pips:

EUR/USD: messy here too for just 70 pips but watch for any Bull Flag formation. Price is sitting on top of the daily Cloud so some caution would be prudent here for any Bears:

E/U 4hr:

E/U daily Cloud:

Other Forex: Watch for any new trend line breakouts but keep in mind that today is End of Month so there may be some unusual flow activity:

EUR/JPY 4hr: this has been choppy but watch trend lines and the 132 level:

AUD/USD 4hr: weaker but watch for any support from the daily 200 EMA (green line)

AUD/JPY 4hr: another Yen pair that is still consolidating:

GBP/USD: Brexit remains in the news but, so far, the Cable is holding up near 1.40. A failure to hold here for the month and any new triangle breakdown could set up for a bit of a dip, even if only temporary. I note that the 61.8% fib of the last swing high move is down near 1.30 (see daily chart):

GBP/USD 4hr: