The US$ ticked a bit higher today buoyed by the private ADP jobs report. Whilst weaker than expected it was higher than the last print and this must have the US$ a bit hopeful about a decent result with Friday’s NFP. Despite this, the US$ and EUR indices continue to range within weekly-chart based Flag patterns but both are also testing triangles on the smaller time frame 4hr charts. European and US stocks have rallied but most currency pairs appear to be trading with great indecision either near or between key S/R levels. Thus, it is of no surprise to me that I don’t have any longer-term 4hr chart trend signals
USDX 4hr: a recent 4hr triangle:
USDX weekly: within a weekly Flag:
EURX 4hr: a 4hr triangle here too:
EURX weekly: a weekly Flag still functioning here too:
Silver and Gold: both are chopping around under major resistance levels:
Silver 4hr: under $15:
Gold 4hr: under the $1,145 and 61.8% fib:
TC Signals: these haven’t moved too far:
Kiwi: gave 60 before slowing. Looks to be closing off:
GBP/NZD: only gave a few pips before pulling back. Has closed off now:
Other Forex: many currency pairs are chopping around key S/R levels.
E/U: this is hanging on to the 1.12 level as this is a MAJOR level for this pair. No clues yet as to whether it will breakout lower or try to rally:
E/J daily: below the triangle TL but above 134
A/U 4hr: holding above 0.70 for now:
GBP/USD daily: has pulled back to the 50% fib but is stuck halfway between a triangle TL and 1.50 support:
U/J 4hr: essentially sideways:
GBP/JPY: this is, not surprisingly, back hugging the 184 handle. I wrote a separate article about the GBP/JPY and this 184 level yesterday and this can be found through the following link:
USD/CAD 4hr: very choppy near the 1.30 level, as I have been anticipating:
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