The US$ caught a bid last session and I’m reading this is being attributed to end of month and end of quarter flows. This shift gave a decent trade on Gold but most other FX pairs are back to consolidating as we edge closer to Easter.
Data: watch today with NZD Business Confidence, US GDP and Crude Inventory data.
USDX daily: still struggling but note the lack of momentum, hence the adjusted lower trend line:
Trend line breakouts and TC signals:
Gold: this gave a breakdown through a support trend line triggering a decent TC signal with a low-risk set up that gave a 5 R result:
Gold 4hr: weaker with the recovering US$:
Gold 4hr: the support trend line that was broken:
Gold 15 min: a low risk TC signal for a 20 pip stop giving 100 pips for 5 R:
Other Forex: caution is suggested given it might be quiet /lower volume now as we head closer to Easter:
EUR/USD 4hr:
EUR/JPY 4hr: It stalled again!
AUD/USD 4hr:
AUD/JPY 4hr:
NZD/USD 4hr:
GBP/USD 4hr:
USD/JPY 4hr: this descending wedge still looks bullish to me:
GBP/JPY 4hr: rather messy under loads of resistance:
Oil 4hr:
