US stocks were mixed on Thursday following better than expected vehicle sales data but weaker than expected manufacturing data. Many FX pairs and commodities continue consolidating within triangle patterns ahead of tonight’s key NFP data. The same drill applies…watch for any momentum-based triangle breakout but this may be safer to do so next week…… after the NFP dust settles.
The FX indices remain divergent on their 4hr and daily Ichimoku charts. These periods often result in better trend trading opportunities off shorter time frame charts during the US session. Be careful with tonight’s NFP release though as this can trigger large and unpredictable market swings.
NB: I am away at the moment due to a death in the family. Updates with be brief and few due to this and the Aussie long weekend on Monday.
USDX weekly: will NFP give this index the chutzpah to stage a breakout?
EURX weekly: watching for a breakout here too:
S&P500 daily Cloud: a new bearish T/K cross here and still below the Cloud and key 2,000 level:
S&P500 30 min: a choppy session though:
Gold weekly: watching for any wedge breakout after NFP; up or down!
Silver weekly: ditto here:
Oil 4hr: ditto here too:
Forex: most triangles are the same BUT those that have been amended have been done so as to capture recent price action:
E/U 4hr:
E/J 4hr:
A/U 4hr:
A/J 4hr:
Cable 4hr:
NZD/USD 4hr:
U/J 4hr:
GBP/JPY 4hr:
EUR/AUD 4hr:
EUR/NZD 4hr:
USD/CAD 4hr:
GBP/AUD daily:
GBP/NZD daily:
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