FX update: just one TC signal but 370 pips! by Mary McNamara

TC Signal: The one valid TC signal so far this week on the GBP/JPY has now given up to 370 pips.

GJ4hr

New TC Signals off my 7 am candle:

A/J: the A/J is above the Cloud on the daily and in the Cloud on the 4hr chart. A small move higher would make this new TC signal valid:

A/J 4hr:

AJ4

A/J 4hr Cloud:

AJ4hrCloud

Cable: this pair has triggered a new TC signal as well. It is above the 4hr Cloud but well below the daily Cloud and thus has room to move higher. Warning: The Scottish referendum vote is still undecided here though:

GU4

Other FX:

E/U: has bounced up off the major support of the monthly 200 EMA and 61.8% fib level. I discussed this support level in article that I wrote yesterday.

E/U 4hr:

EU4

E/U weekly Cloud:

EUweeklyCloud

E/J: this has continued its run higher as well. Major resistance lies ahead though as explained in my post from yesterday.

E/J 4hr:

EJ4

E/J daily: showing the 61.8% fib above @ 141:

EJdaily

A/U: any continued USD weakness would help develop the bullish ‘inverse H&S’ here:

AUweekly

U/J: this triangle breakout move has given up to 590 pips now!

UJ4

Kiwi: still below the 0.82 but any new ‘risk on’ rally would help to lift this pair. Best wait until after the w/e NZ election though:

Kiwi4

EUR/AUD daily: channel breakout holds for now:

EAdaily

GBP/AUD ditto here:

GAdaily

GBP/CHF: ditto here too:

GBPCHFdaily

USD/CAD: back to consolidating within the triangle and under the 1.10 level:

LoonieDaily

Silver: holding above a support trend line:

Silver4hr

The post FX update: just one TC signal but 370 pips! appeared first on www.forextell.com.

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