USD higher but still under Double Top. Stocks forget Greece! by Mary McNamara

The USD is trading a bit higher but is still under the potentially bearish ‘Double Top’ of 95.50. Stocks have rallied and ‘Greece’ is clearly ‘so yesterday’!

Today: It is a Bank holiday in Japan today so the Yen pairs might be quiet. There are Eurogroup meetings with the potential for market-moving comments but otherwise there is no scheduled ‘high impact’ data.

I am still away so updates are brief and few.

USDX 4hr: higher BUT not out of the woods. We need to see a clear ‘make or break’ of 95.50 to be more confident of any new overall trend.


S&P500 30 min: choppy but higher:


S&P500 daily Cloud: the bullish cross has not been confirmed yet as the Tenkan/Kijun lines remain flat:


TC Signals:

U/J: has kicked on and is now up 100 pips BUT note how price has still not broken out from the daily Cloud. A failure to do so could undermine this signal but success could send it rallying:



GBP/JPY: this has triggered a new signal too:


Loonie: has triggered a new TC signal BUT needs to close above the 4hr Cloud first. Should do so shortly:

Loonie4hr Loonie4hrCloud

Other FX:

E/U: not doing too much BUT this isn’t surprising whilst the picture on the USDX remains uncertain. It is still above key 61.8% fib support:


E/J: a bit higher but, as discussed in my w/e analysis, I’m waiting for a make or break of 136:


A/U: lower:


A/J: above the ‘neck line’ but doing little. This might get dragged along if the U/J takes off at all:


Kiwi: looking interesting still. Watch for any breakout above the ‘neck line’:


Cable: this still looks menacing as it consolidates under the bear trend line. The trend line has been in force for over 7 months so any bullish breakout would be significant. Keep an eye on the daily Cloud too. There is still a fair way to go here for any bullish breakout but success would be significant here too!



The post USD higher but still under Double Top. Stocks forget Greece! appeared first on

Leave a Reply

Your email address will not be published. Required fields are marked *