FX has been choppy to start the week and I’m wondering if this is due to ‘end of month’ jitters as Rates and Bonds threaten breakouts from their long term chart patterns? (see w/e post for charts). Regardless, many of the FX pairs I watch are still ranging with 4hr chart patterns giving us trend lines to monitor for eventual breakouts although there were a few internal TC signals during, surprisingly, the Asian session.
Data: watch today with USD Core Durable Goods and Consumer Confidence data and the testimony from Fed Chair Powell.
USDX daily: down for the first day of the week and still hovering near the longer-term 50% fib:
Forex: there were a few TC signals that, surprisingly, triggered during the Asian session but these all reversed later in the day. My experience has been that the European and US sessions are generally better for TC signals than the Asian session.
Gold: this was higher during the Asian session and gave a TC signal for 100 pips and 4 R before reversing:
Gold 4hr: watch trend lines for any new breakout:
Gold 15 min: the first valid TC signal for the day gave 100 pips and a 4 R signal before fading:
EUR/USD: this was also higher during the Asian session and gave a TC signal for 45 pips and 4 R before reversing:
EUR/USD 4hr: watch trend lines for any new breakout:
EUR/USD 15 min: gave 45 pips and a 4 R signal before fading:
EUR/JPY 4hr: this one has my interest as it tests a bear trend line:
AUD/USD: this was also higher during the Asian session and gave a TC signal for 35 pips and 1 R before reversing:
AUD/USD 4hr: watch trend lines for any new breakout:
AUD/USD 15 min: this is rarely a good candidate for TC:
AUD/JPY4hr: watch trend lines for any new momentum-based breakout:
NZD/USD: this was also higher during the Asian session and gave a TC signal for 35 pips and 1.5 R before reversing:
NZD/USD 4hr: watch trend lines for any new breakout:
NZD/USD 15 min: momentum faded at the bear trend line:
GBP/USD 4hr: watch trend lines for any new breakout:
USD/JPY 4hr: watch trend lines for any new breakout:
GBP/JPY 4hr: choppy here but watch revised trend lines and the 150 S/R level for any new breakout:
Oil 4hr: watch trend lines for any new breakout:
Most other FX pairs as per w/e post.