The US$ recovered a bit of lost ground overnight to settle back near the 96.50 ‘sitting on the fence’ level ahead of tonight’s US NFP data. Two of the TC signals have continued for more gains to give a combined TC pip tally of 910 pips. Not bad for one week! However, many instruments are now hovering near key S/R levels ahead of NFP and news of any Greek-debt resolution giving traders lots of trend lines to monitor.
USDX 4hr: price has pulled back to trade within the recent triangle:
USDX daily: no triangle breakout yet:
USDX weekly: despite a dip the US$ pulled back to hold within the triangle. A trend line worth watching ahead of NFP and any Greek-debt news:
EURX weekly: the EURX has pulled back to just below the neck line of a potential bullish ‘inverse H&S’ pattern. Another trend line to watch ahead of NFP and any Greek-debt news:
S&P500: stocks fell in the last session with concern about the relative health of the US economy and the failure to date of any resolution with the Greek-debt saga.
Silver 4hr: this has dipped back to trade just above $16 support following the US$ recovery:
Gold 4hr: this is down near the key $1,180 following some US$ recovery and ahead of NFP:
TC Signals: the A/J closed off but the E/J and E/N are still open. There was a new signal on the GBP/AUD last night:
E/N: has given up to 360 pips but has slowed as it navigates a major monthly wedge trend line:
E/J: this slowed as it neared a major fib level;the 61.8% fib of the major 2008-2012 swing low move but the bullish weekly ‘inverse H&S’ looks intact for now:
A/J 4hr: this signal has now closed after giving up to 120 pips. This is back to trading within the triangle:
GBP/AUD: a new signal came overnight:
E/U: still above the key 1.12 level ahead of NFP and under a potential ‘neck-line’ trend line of a bullish weekly chart ‘inverse H&S’:
A/U 4hr: has pulled back from the 4hr 200 EMA but is still range-bound:
Cable: hovering under the key 1.55 level and this is the level to watch ahead of NFP:
Kiwi 4hr: chopping sideways and trying to get used to being sub-0.735:
U/J 4hr: consolidating ahead of NFP. Watch for any trend line breakout with momentum:
GBP/JPY: consolidating above 190 and a weekly close above this level would be bullish:
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