The US$ slipped further with the North Korea denuclearization news and this has helped to shift Forex into a risk on bias. There were a few more trend line breakouts last session and a couple of decent TC signals as well but with other patterns still brewing.
Data: Watch today with AUD GDP and the RBA Gov Lowe speech and ADP data.
USDX daily: watch for any push down to the recent low:
FX Index alignment: the important point to note now is the FX Indices have just slipped back into FX alignment for ‘risk on‘.
Trend line breakouts and TC signals:
Gold: there has been a trend line breakout here with the weaker US$ and a couple of TC signals as well. One worked and one didn’t:
Gold 4hr: 140 pips:
Gold 15 min: one losing low risk TC signal but this was followed by a better one although it needed more risk. It gave a 3 R result though:
EUR/USD 4hr: watch for any continued push up to the 1.260 level:
AUD/USD 4hr: a smaller pattern breakout for now BUT watch the bigger trend line here though:
NZD/USD: a trend line breakout and a decent TC signal as well:
NZD/USD 4hr: a small breakout for just 60 pips but watch Fibs for future potential targets:
NZD/USD 15 min: a small move but a decent return of 3 R here:
EUR/JPY 4hr: now at 120 pips although price did re-test the daily 200 EMA:
Other Forex: watch for any new trend line breakouts on these patterns:
GBP/USD 4hr:
USD/JPY 4hr: don’t forget there is the BoJ rate update to come on Friday so this may stay range-bound until then?
GBP/JPY 4hr: ditto:
Oil 4hr:
