Monthly candles: FX and Stock Indices

Monthly candles closed at the end of Wednesday’s trade and are worth reviewing as we head out of the northern hemisphere summer period. All of the major stock indices closed with indecision-style candles although the NASDAQ carved out a close above the key 5,200 level marking the highest ever close for the tech-heavy index. Many FX pairs also closed with indecision-style candles but a few beaten down pairs managed to carve out reversal-style candles and it is this latter group that FX traders should note.

NB: I am away for the next few days so further updates will be brief and few during this time.

Forex Indecision-style monthly candles:

EUR/USD: a bearish coloured Doji and closed just below the key 1.12:

EUmonthly

GBP/USD:  A ‘Spinning Top’ candle and closed just above the key 1.30:

GUmonthly

NZD/USD: a bullish coloured ‘Spinning Top’ and closed just below the key 0.73:

KiwiMonthly

USD/CAD:  a bullish coloured ‘Spinning Top’ and closed just above the key 1.30:

LoonieMonthly

AUD/JPY: a bullish coloured ‘Spinning Top’ BUT in a bit of limbo:

AJmonthly

GBP/NZD:  a bearish coloured ‘Spinning Top’ and closed just above the key 1.77:

GNmonthly

Forex bullish-reversal style monthly candles: this is the group that I suggest FX traders take most note of as these pairs remain on the bearish radar for many commentators. These reversal candle formed above major support levels and so I would want to see a close and hold below these regions before being confident of any bearish continuation:

USD/JPY:  a bullish-reversal ‘Hammer’ candle AND closed just above the key 100:

UJmonthly

EUR/JPY:  also a bit of a bullish-reversal ‘Hammer’ candle AND closed just above the key 115:

EJmonthly

GBP/JPY:  a bullish-reversal ‘Hammer’ candle and closed just above the key 134:

GJmonthly

EUR/AUD: a bullish-reversal ‘Hammer’ candle and closed just above the major support trend line:

EAmonthly

GBP/AUD:  a bullish-reversal ‘Hammer’ candle BUT closed just below the key 1.75:

GAmonthly

Stock Indices: all closed with indecision-style candles:

NASDAQ: A bullish coloured ‘Spinning Top’ BUT this closed at its highest ever level and above the key 5,200 breakout region:

NASDAQmonthly

S&P500:  a bearish coloured Doji BUT closed above the key 2,135 level:

S&Pmonthly

DJIA: a bearish coloured Doji:

DJIAmonthly

Russell 2000: A bullish coloured ‘Spinning Top’ BUT this closed above a triangle trend line supporting a bullish breakout:

RUTmonthly

DAX: A bullish coloured ‘Spinning Top’ BUT this closed above a triangle trend line suggesting a bullish breakout:

DAX monthly

FTSE: A bullish coloured ‘Spinning Top’ and closed just below the key 7,000 level:

FTSEmonthly

TSX: A bullish coloured ‘Doji’:

TSXmonthly

XJO: a bearish coloured ‘Inside’ candle but holding above a long-term support trend line:

XJOmonthly

 

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