US$: on the march again

The US$ gained during the US session following some Fed comments endorsing a September US rate hike. Stocks chopped a bit lower on this concern and with the continued slide in Apple’s stock price. FX movement is bringing some significant trend lines into focus that warrant watching in a week with lots of high impact data. Silver and Gold are holding up quite well given the US$ strength.

USDX 4hr: price has traded up to test the upper Flag trend line:

USDX4

USDX daily: watch for any daily based trend line breakout to signal a possible start to a Bull Flag:

USDXdaily

EURX 4hr: lower with the stronger US$:

EURX4

EURX daily: still above the 96 and trend line support for now though:

EURXdaily

S&P500 daily: back below the Cloud:

S&PdailyCloud

AAPL weekly: this pullback, IMHO, is a buying opportunity. The last Flag following a swing high gave a 50% pullback and any such pullback after the latest swing high would bring price down below $100 and near the $95 level and bottom of the weekly Cloud:

AAPLweeklyIchi

Silver 4hr: holding up quite well considering the run on the US$:

Silver4hr

Gold 4hr: same here!

Gold4hr

Forex:

E/U daily: lower with the stronger US$ but I’m more focused on the support trend line that is holding price up for now:

EUdaily

A/U daily: this has been supported following some strong AUD data and the latest RBA guidance. I’m watching for any wedge breakout and would then be looking for a possible test of the 0.795 level as this is a Fib region (78.6%), the daily 200 EMA and previous S/R:

AUdaily

A/U monthly: the A/U is currently hovering above a major support level. This support was noted in my w/e analysis and stems from major trend line support and two monthly based key fib regions as the chart below reveals. A strengthening US$ would undermine recovery efforts here but this is certainly a level to watch:

AUmonthlyCloud

Kiwi daily: this looks like it could be starting on a Bear Flag breakdown:

KiwiDaily

AUD/NZD monthly: I had previously suggested that this might be a classic example of technical theory at work with a breakout, test of trend line and continuation and that is what we’ve had so far:

ANmonthlyCloud

Cable 4hr: watch for any trend line breakout after Thursday’s GBP data-fest day:

GU4

U/J daily: this has finally escaped the 124 level and is up testing the upper triangle trend line. Watch for any daily-based breakout here:

UJdaily

Loonie daily: this ‘keeps on keeping on’ and did give a daily TC signal:

LoonieDaily

GBP/AUD monthly: I’m on the record as saying I’m looking for a pullback to at least 2.07 and we just might be on the way there now:

GAmonthly

GBP/NZD: no such luck here with any pull back yet though. In fact, price looks like it’s headed to test the major monthly trend line again:

G/N monthly:

GNmonthly

G/N daily:

GNdaily

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