The US$ is grimly hanging on to the 100 level ahead of next week’s FOMC. It may take until next week to define the next directional move on the US$ but, until then, the parameters on my algo are spot on. We’ve had another great European and US session for 30 min trend trades!
USDX 4hr: hanging on ahead of next week’s FOMC:
Gold: bounced up of the 61.8% fib and $1,170 level to give a 75 pip TC signal:
Gold 30 min:
Gold 4hr: I do think that the daily chart’s 61.8% fib near the $1,170 level remains the ‘line in the sand’ to watch here. Note also the look of a bullish descending wedge on the 4hr chart. Watch for any momentum-based trend line breakout: up or down!
Silver 30 min: 40 pips here:
DJIA 30 min: 250 pips
FTSE 30 min: a huge run here!
ASX-200 30 min: 320 here:
DAX 30 min: a huge haul here too:
USD/TRY: this tested and broke the 3.40 level as discussed per yesterday’s article. Note the move below the 4hr Cloud. I suspect 3.40 would be tested again before any potential bearish follow through and 3.10 would be an ultimate target to test:
USD/TRY 15 min:
USD/TRY 4hr Cloud:
AUD/USD 4hr: this has triggered a new TC LONG off the 4hr chart and broken the 4hr triangle. There is CNY data later today to watch for though!
NZD/USD 4hr: this, too, has triggered a new TC LONG off the 4hr chart and broken the 4hr triangle. There is CNY data later today to watch for though!
USD/JPY 4hr: still consolidating here under the daily chart’s 61.8% fib resistance: