Currency update

I mentioned this morning that the FX indies were aligned for ‘Risk On’. There have been two new TC signals so far but I’m on the lookout for more if this alignment holds. I’m more interested in USD and EUR based pairs given this recent alignment.

New TC Signals: sorry for the delay with this particular update but I’ve had some distractions this morning. There is no high impact scheduled data during the European /US sessions. Greek-debt related unscheduled news can always surprise though.

E/U 4hr: LONG TC signal came off my 7am candle:


E/J 4hr: ditto here. This does have a ‘Double Top’ look to it despite the bullish wedge breakout:


Previous TC Signal:

GBP/AUD 4hrz: this has closed off now and is basically back where it started. I’m not as keen on the cross pairs for now given the FX index alignment:


Other FX:

A/U 4hr: bouncing up off lows near the 0.755 region again:


A/J 4hr: I’m watching the 96 level again:


Cable 4hr: this is getting close to a recent bear trend line and forming a new TC signal BUT it also has to get up through the 4hr Cloud first:


Kiwi 4hr: has broken up through a recent bear trend line but has RBNZ Interest Rates to manage on Thursday and is still below the 4hr Cloud.


U/J 4hr: pulling back to test the 124 level? This is a major S/R level for this pair as it is the region of the previous highs from back in 2007.


U/J monthly: the 124 is a key level and price may chop around either side of this level, testing it, until the month closes.


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