The hold of the US$ above support has made for some choppy FX action with only one new FX TC signal last session but there great moves across stock indices offering a couple of fantastic low risk/high reward trade set ups.
Data today: watch for impact from the RBNZ Gov speech, OPEC meetings, USD GDP and speeches form the BoE Gov Carney and US Fed Chair Yellen. There is also talk of a Brexit deal so watch for impact on GBP pairs.
USDX weekly: the 92.50 is support for now:
EURX weekly: Watch to see if this Flag breakout fails at the Double Top.
TC Signals: there were great moves across many stock indices last session but just one on FX.
DJIA 5 min: this index gave a great TC signal last session offering a very low risk set up for up to 27 R!
S&P500 5 min: this index gave a great TC signal last session as well offering a very low risk set up for up to 13 R:
EUR/USD: there was weakness with this pair that triggered a TC signal for just 1.5 R:
EUR/USD 4hr: watch for any support from the 1.18 S/R level:
EUR/USD 15 min: a 1.5 TC signal here last session:
Charts of great interest:
ASX-200 4hr: this had looked like a Bull Flag and we’ve now seen a breakout and move above the 6,000 major S/R level. Watch for any follow-through, especially given the recent moves on US stocks:
Oil 4hr: watch the weekly 200 EMA for any new breakout as, if successful, there is a lot of room to run:
Other FX: watch for any momentum based breakout from the following technical patterns:
Gold 4hr: $1,300 is key S/R here:
NZD/USD 4hr: watch for any make or break at the 4hr 200 EMA:
GBP/USD 4hr: the main level to watch here, IMHO, is the 3-year bear trend line:
GBP/JPY 4hr: trend lines being tested BUT no momentum here yet: