I cast my eye first over the economic calendar this morning, noting the upbeat US CPI and weekly jobs data, and thought this would have lifted the US$ over the 92.50 but was surprised to see this was not the case. 92.50 is proving to be very effective resistance for the US$ index and remains the level to watch with Friday’s US Retail Sales. The GBP has taken off following the BoE hint of a rate hike and this triggered a number of new trend line breakout moves.
USDX daily: watch for any new make or break at 92.50 with US Retail Sales:
Trend line breakouts:
GBP/USD: a new breakout giving 190 pips but the move was too quick to catch on the 15 or even 5 min time frames. Keep an eye on the major 1.35 level now as per notes in my earlier write up:
GBP/USD 4hr: watch the 1.35 level:
GBP/USD 15 min:
GBP/USD 5 min: this time frame still needed too big a Stop:
GBP/AUD 4hr: this is now up 300 pips for the week:
GBP/JPY 4hr: this new breakout and move above 147 gave 200 pips:
GBP/NZD 4hr: this trend line breakout gave 380 pips!
Oil: this trend line break has given 130 pips and there was a decent LONG TC signal on the 5 min chart for low risk giving up to 11 R!
Oil 5 min:
EUR/USD 4hr: rather choppy:
EUR/JPY 4hr: might be trying to break higher?
AUD/USD 4hr: keep watch of the trend lines for any new breakout:
AUD/JPY 4hr: this move stalled at 110 pips and note the revised trend lines. Keep an eye on the key 89 level for any new breakout as well:
NZD/USD 4hr: choppy and might stay this way until after next week’s GDP data of the NZ elections:
AUD/NZD 4hr: this still looks like a Bull Flag to me:
USD/JPY 4hr: not doing too much:
EUR/NZD 4hr: keep watch of the trend lines for any new breakout:
Gold 4hr: keep watch of the trend lines for any new breakout:
Silver 4hr: keep watch of the trend lines for any new breakout: