Increasing North Korea tension has resulted in the US$ and Gold ticking higher and the three major US indices closing lower. There have been a few trend line breakout trades as a result of this movement but frustratingly few TC signals off the 15 min charts. However, the best TC signal of the day came off Oil.
Data: watch today with the AUD RBA Assistant Gov Bullock speech, NZD Trade Balance & Business Confidence and USD Consumer Confidence and a Fed Chair Yellen speech plus a couple of FOMC member speeches.
USDX daily: the index has reclaimed the 92.50 so watch to see if this can hold:
EURX weekly: sharply lower to start the week but still within the Flag, for the time being at least:
Best 15 min TC signal: Oil
Oil 4hr: note how Oil, apart from giving a great 15 min move on the day, has now also broken above the major bear trend line that forms up the monthly chart’s ‘Inverse H&S’ pattern.
Oil 15 min: this had gone sideways for the last few sessions but started moving yesterday. The first TC signal was a loss but the second sure made up for it with a 160 pip move for over 10 R!
Trend line breakout trades:
AUD/NZD 15 min: this gave a trend line breakout and new TC signal for just 1.5R before it faded:
Gold 4hr: North Korea tension no doubt helping here for this 90 pip breakout move:
EIR/USD 4hr: a bit of weakness for 45 pips but watch to see if there is any new make or break at 1.18 S/R:
EUR/JPY 4hr: a 150 pip breakout move:
USD/CNH 4hr: a 240 pip breakout move:
USD/TRY 4hr: a 370 pip breakout move:
USD/JPY 4hr: a small break for just 50 pips:
AUD/USD 4hr: revised trend lines here but holding up surprisingly well considering stock weakness and NK tension:
AUD/JPY 4hr: revised trend lines here too and note it is back below the key 89 level:
NZD/USD 4hr: holding up surprisingly well here too considering:
GBP/USD 4hr: revised trend lines here and holding up well too:
GBP/JPY 4hr: revised trend lines here too and holding up well also:
GBP/AUD4hr: revised trend lines here too:
GBP/NZD 4hr: still consolidating:
EUR/AUD: weaker within the pattern but gave a decent TC 15 min signal:
EUR/AUD 15 min:
EUR/NZD 4hr: still consolidating:
Silver 4hr: keep an eye on the trend lines here for any new breakout: