The USDX has failed at its first attempt at crossing the 100 level and I’ll be watching to see how further efforts progress. Any new weakness here could enable a bit of a ‘risk on’ bounce across some instruments and some look like their getting ready for just such an opportunity. US Retail Sales and Unemployment Claims data may impact the US$ move here tonight though.
USDX 4hr: failed at the first attempt. At a minimum, we could be in for some more consolidation here:
Kiwi: this is the first one off and running and the TC signal has now closed off after the ‘Double Bottom’ bounce I had previously warned about. Note the 61.8% Fib is near the monthly pivot at 0.745 and not far from the 4hr 200 EMA. Many traders will load up with new shorts from there and this will be a key level to watch. A close and hold above 0.745 would suggest this down turn might be over though…even if only for the short term:
Cable: a close and hold back above 1.50 would be bullish BoE Gov Carney speaks tonight so watch out for any impact from this speech:
E/U: now this is one interesting chart! Note how a 61.8% fib pullback of the latest bear move would bring price back to the recent S/R level of 1.11!
Gold daily: Gold is trying to bounce up off the major 61.8% Fib level:
S&P500: this may try and bounce up off its 61.8% Fib:
S&P500 30 min: might be setting up for a good 30 min chart breakout trend trade:
NASDAQ: this has yet to properly test the 4,800 level though:
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