The US$ rally petered out and the index is back down trying to hold above the support of the weekly Cloud. A make or break from here will be important as it could shape up the next major moves for many currency pairs. I’d mentioned cross pairs might be choppy if US$ movement kicks in and this remains the case.
TC Trial: this is keeping me rather busy but check out the first bit of feedback I’v had through this link. Early days, for sure, but I’m hoping this sets the tone for the rest of the trial!
USDX weekly: watch the bottom of the Cloud for any make or break:
Breakout trades:
USD/MXN: This pair has given the best breakout trade since yesterday with a move of over 1,500 pips. This was the 4hr chart from yesterdays post:
This is the chart today showing the breakout 1,500 pip move.
The 15′ chart shows some great entry opportunities here:
USD/MXN weekly: note that this break of trend line represents the start of a potential 25,000+ pip Bear Flag move. Watch for any test of the broken trend line before continuation though:
USD/ZAR: This pair has also gave a great breakout trade since yesterday’s post with a move of over 1,100 pips. This was the 4hr chart from yesterdays post:
This is the chart today showing the breakout of over 1,100 pips. Watch for any ‘Double Bottom bounce here and I would not be surprised to see the S/R level of 13 tested before any potential bearish follow through:
The 15′ chart shows a great entry near the break of 13 S/R:
USD/CNH 4hr: gave a small breakout BUT watch the major support trend line under current price for any new make or break:
NZD/USD 4hr: this might be about to take off but watch today with the NZD Annual Budget:
Silver 4hr: might be getting ready to move higher too:
Other Forex: for all of these watch the trend lines for any new make or break that triggers with increased momentum.
EUR/USD 4hr:
EUR/JPY 4hr:
AUD/USD 4hr:
AUD/JPY 4hr:
GBP/USD 4hr: I do think 1.30 is a HUGE level here! Watch with today’s GBP Second Estimates GDP.
USD/JPY 4hr: 112 is giving this pair some grief!
GBP/JPY 4hr:
GBP/AUD 4hr:
GBP/NZD 4hr:
EUR/AUD 4hr:
EUR/NZD 4hr:
USD/TRY 4hr:
Oil: watch for any move on the 4hr chart to this upper trend line with today’s OPEC Meetings.
Oil 4hr:
Oil monthly: this trend line is the ‘neck line of a huge Inverse H&S pattern!
Gold 4hr: watch the $1,265 level too:
