There is a lot of data to impact currencies today but there has already been some movement, courtesy of mixed AUD Employment data. Whilst the headline number was better than expected the number of jobs added was a miss and this has weakened the AUD$. Today brings GBP Retail Sales, the ECB rate announcement and US Philly Fed Manufacturing and Weekly Unemployment data.
USDX 4hr: a triangle forming here so watch for any momentum-based breakout and watch the 82.15:
EURX daily: holding above the daily support trend line for now but watch for any make or break with today’s ECB.
S&P500: nothing setting up here just yet:
Gold: no new SHORT signal but watch for any make or break at $1,265:
AUD/USD: yesterday’s LONG closed off for just 25 pips and a new SHORT triggered during Asia following the AUD Employment data. Price is currently back at the major 3 1/2 year bear trend line:
AUD/JPY: this has triggered a new SHORT but the one from yesterday didn’t get too far so I’m not chasing this. The 79 would be an obvious target if this keeps going though.
EUR/AUD: this triggered a new LONG during Asia too and I’ll be watching after ECB to see if this continues. If so, watch the 1.44 recent S/R level:
NZD/USD: a new SHORT triggered here recently too but watch for any support from 0.72:
EUR/USD: a new SHORT just triggered here too but watch for any support from the bottom trend line. Note how the revised trend lines here have genrated a bit ‘bullish-reversal descending wedge’-like pattern on the 4hr chart! One to watch with ECB. Any bearish break down will have me looking down to whole numbers and that 1.045 S/R level (daily). Any bullish break will have me looking for a test of the key 1.12 (monthly chart’s 61.8% fib):
EUR/NZD: no new signal here yet but it may offer an opportunity after today’s ECB. Note the bear trend line so watch for any make or break of that with ECB:
USD/JPY: nothing here yet but this has been choppy and any new TC signals generally have little follow-through.