The US$ put in a bullish day on the back of US CPI data but the 100 barrier still remains ahead of current price action. US$ strength put pressure on the E/U but the A/U and Cable continue to hold up quite well. US stocks pared gains over ‘geopolitical’ concern and this may become a regular variable in the mix here now along with economic data factors.
USDX weekly: Heading up towards the 100 level but I’m still not convinced this has the chutzpah to get over this resistance and that a US rate hike isn’t already priced in to this move.
USDX monthly: I’ll be the first to admit, though, that any close and hold above 100 would suggest a move up to the congested 120 region:
EURX weekly: the 94 is coming into focus now and there will be some “Double Bottom’ thoughts here.
S&P500 30 min: chopped a bit lower following news of a potential German attack. The major global indices continue to consolidate however and I wrote a separate article about this yesterday that can be found through the following link:
Gold weekly: Gold is lower BUT I still haven’t given up on the bullish descending wedge here. Any failure of the US$ to break the 100 level would support the metal so it’s still a wait and see game….IMHO!
TC Signals: these two are still open but haven’t moved too far just yet and I have one new signal:
U/J 4hr: still under 124:
GBP/JPY 4hr: testing resistance:
EUR/AUD 4hr: this triggered a new signal yesterday but the trend line may continue to offer support so I’m wary here too:
Forex: Today’s data includes US Building Permits & FOMC Meeting Minutes.
E/U: on a slide here within a weekly-chart Bear Flag breakout move BUT there is potential ‘Double Bottom’ support below at 1.045. Watch out for any impact from today’s FOMC data:
E/U weekly: will 1.045 be support here:
E/J 4hr: holding below the 132 level still BUT, interestingly, no TC SHORT signal:
A/U 4hr: refusing to fall off the cliff here. Watch for any channel breakout though, up or down:
A/J 4hr: no clean-cut TC signal here but price is trying to break higher. Keep an eye on the 89 level:
Kiwi: this could be starting a new Bear Flag weekly move BUT I don’t have any momentum signal on the 4hr chart yet:
GBP/USD 4hr: still in limbo under trend line resistance:
GBP/AUD 4hr: choppy here too:
GBP/NZD: this has continued to drift higher without a huge amount of momentum and might be heading back to test the monthly chart’s bear trend line:
AUD/NZD monthly: this is still encouraging for me given I’m an Aussie: