TC update: 4 signals give over 1,000 pips + new ones by Mary McNamara

The four TC signals have now closed off after delivering a maximum range of 1,070 pips: E/J= 140, U/J= 200, GBP/JPY = 250 and the A/J = 480. There have been some new signals triggered although caution is required given the volatility and formation of some large candles following FOMC.

TC Signals: The following TC signals have closed off:

A/J: this signal gave up to 480 pips. I had suggested that 96 would be a target and to then look for longs from there. Price is up over 60 pips from that base:

AJ4

E/J: gave a maximum of 140 pips:

EJ4

GBP/JPY gave a spike of 250 pips:

GJ4hr

U/J: gave 200 pips:

UJ4

USD Index: this has made a triangle breakout and seemed to enjoy the Fed commentary following FOMC:

USDX4

EURX: the USD gain comes with EURX pain. The Bear Flag just might evolve here:

EURXdaily

EURX weekly: the ‘Bear Flag’ is taking shape:

EURXweekly

TC Signals new: there have been a few new TC signals BUT I am cautious given some of these were triggered after the formation of some large candles:

E/U: this is also back within the trading channel:

EU4

GBP/USD caution is needed as well given this is trading at s recent low:

GU4

Swissie: This signal has evolved after a big move AND price is under a major resistance level of 0.975. The weekly chart shows the significance of this level. This may be safest to take after any close and hold above 0.975:

Swissie4hr

Swissie weekly:

Swissieweekly

U/J: this has triggered a new signal BUT it isn’t valid just yet as price is still below the 4hr Cloud. Any close and hold above the 4hr Cloud would support this signal though. I’m also cautious here as well given that BoJ have an interest rate announcement tomorrow:

UJ4

UJ 4hr Cloud:

UJ4Cloud

Other FX:

A/U: still below the 0.82:

AU4

A/U daily: it looks like the Bear Flag will continue here. The target for this move is 0.80:

AUdaily

Kiwi: closed the day above 0.77 but is slipping now:

Kiwi4

EUR/GBP daily: has not given a clean cut triangle breakout BUT it continues to bounce off ranges of the daily chart’s descending trading channel:

EGdaily

Loonie: gave another bounce up off the monthly 200 EMA that I had warned about! This is now over 60 pips above this S/R level:

Loonie4hr

The post TC update: 4 signals give over 1,000 pips + new ones. appeared first on www.forextell.com.

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