The US$ has finished the month and quarter ‘sitting on the fence’ just under the 95.50 region. There is a lot of data to come next week and maybe one or some of these items might help to trigger a breakout. Many trading instruments remain range-bound in various triangle or wedge patterns and I’m looking for a US$ breakout, up or down, to hopefully get things moving again on these items too.
NB: I leave for OS today and so this is just a brief update.
USDX daily: range bound on the daily time frame and sitting at the key 95.50.
USDX weekly: range bound on the weekly time frame too and note how the 95.50 is near the half way mark of the weekly chart’s range-bound channel formed up by the 100 and 92.50 level:
EURX daily: holding above 100 but still in a weekly wedge pattern:
Data: there is a lot of data next week culminating with NFP on Friday.
Forex: most pairs remain range-bound within triangle or wedge patterns but there is a lot of data next week and one or some of these might trigger breakouts here. Thus, watch for any trend line breakouts that evolve with increased DMI and ADX momentum.
EUR/USD: range-bound here and still within a daily triangle but holding above the key 1.12 level:
E/U daily:
E/U monthly:
EUR/JPY daily: triangle bound here:
AUD/USD daily: triangle bound here:
AUD/JPY daily: triangle bound here:
GBP/USD daily: triangle/wedge bound here:
NZD/USD 4hr: triangle bound here:
USD/JPY: triangle bound here:
U/J daily:
U/J 4hr:
GBP/JPY 4hr: triangle bound here:
USD/CAD 4hr: wedge bound here:
Gold daily: wedge bound here:
Oil weekly: watch for any make or break at $50. A bullish break might support the inv H&S and suggest a move to $70:
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