The lack of direction with the US$ index is keeping currency markets choppy but there have still been a couple of trades to take. The lack of economic data is helping to keep this status quo and today isn’t much different with just US Weekly Unemployment Claims and CAD Retail Sales, however, but I’m not tracking any CAD pairs.
USDX weekly: still below the weekly Cloud and broken trend line.
Trend line breakout trade:
EUR/AUD: this bullish descending wedge breakout triggered with a new TC signal off the 15 min chart although it needed a large Stop and may not have appealed to Tc Trial traders:
EUR/AUD 4hr: has given 100 pips:
EUR/AUD 15 min: gave a new TC LONG but needed a large Stop:
TC Trial Participants: there were two other decent TC trades last night on Oil and the NASDAQ-100
Oil 15 min: this move came after the Crude data and gave a decent entry with small Stop for a trade of up to 4R!
NASDAQ 5 min: this also gave a new LONG during the US session for up over 3R:
Other Forex:
EUR/USD: has been choppy and I’ve revised the 4hr trend lines. Gave one choppy TC LONG off the 15 min:
E/U 4hr:
E/U 15 min:
EUR/JPY: ditto here:
E/J 4hr:
E/J 15 min: two ok TC signals but not much follow-through:
AUD/USD 4hr: has given 35 pips from the breakout but watch the 0.755 level:
AUD/JPY 4hr: revised 4hr triangle trend lines here:
GBP/USD 4hr: revised 4hr trend lines here. The TC system protected traders from this choppy action last session as there were no new TC signals off the 15 min charts:
NZD/USD 4hr: The RBNZ held rates and the Kiwi is holding its triangle:
USD/JPY 4hr: watch the 4hr triangle trend lines:
GBP/JPY 4hr: revised 4hr triangle trend lines here:
GBP/AUD 4hr: a breakout looks to be underway but the accompanying 15 min chart TC signal needed too large a Stop:
GBP/NZD 4hr: no momentum breakout just yet:
EUR/NZD: nor here:
E/N 4hr:
E/N 15 min: anyone game enough to take the TC LONG ahead of the RBNZ rate update would hopefully have taken the 1R profit prior to the data release>
USD/TRY 4hr: watching for any breakout:
USD/CNH 4hr: new 4hr triangle trend lines here:
Commodities:
Gold: this continues holding near the 4hr chart’s 61.8% fib. Watch for any channel breakout and the $1,250 level:
Gold 4hr:
Gold 15 min:
Silver 4hr: watch for any bounce off this major support:
Stock Indices: watch the 4hr chart trend lines on these indices for any breakout:
DJIA:
S&P500:
FTSE:
DAX-30:
JP225:
