US$, Gold and the Yen: By Mary McNamara

The US$ is a bit weaker but the Yen has just spiked following the North Korea missile. This has been the perfect storm keeping Gold supported following its 6-year bear trend line breakout from a few weeks ago and it has now also broken up through major $1,300 resistance.

USDX weekly: I’d long ago said a break of the weekly 200 EMA would bring the 61.8% fib into focus and that remains the target for this mean reversion move:

EURX weekly: no pullback here yet!

Trend line breakouts: there have been two new breakouts on Gold and Silver but some breakouts from last week have continued:

Gold: this has given a new triangle breakout above the $1,300 trend line for up to 240 pips. There were great TC signals on the 15 min and 5 min charts though yesterday for 3.5 R and 15 R respectively:

Gold 4hr:

Gold 15 min: a large Stop needed here but the signal gave 3.5R:

Gold 5 min: a much smaller Stop here means the trade generated 15 R!

Silver 4hr: a new 4hr chart triangle breakout for 35 pips BUT the bigger picture story here is that this marks the breakout above a 6-year bear trend line!

EUR/USD 4hr: now maxed at 170 pips:

EUR/JPY 4hr: spiked to 120 pips but note the revised trend lines here given revised Yen strength following the North Korea missile:

AUD/USD 4hr: was up 40 before the North Korea incident so note the revised trend lines here too:

GBP/USD 4hr: up to 110 now BUT now watch the 4hr 200 EMA for any new make or break:

GBP/JPY 4hr: was up 110 before the North Korea incident so note the revised trend lines here as well:

EUR/NZD 4hr: now at 450 pips:

EUR/AUD 4hr: now at 160 pips:

USD/CNH 4hr: now at 640 pips:

Other FX:

NZD/USD 4hr: watch the wedge trend lines for any new breakout:

USD/JPY 4hr: watch the weekly 200 EMA and the triangle support trend line for any new make or break:

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