The US$ is holding above 95.50 support and Gold above the key $1,300 level. The EUR$ index is trying to break up and out from a resistance zone though and is worth keeping an eye on whilst the AUD/USD continues consolidating within a 4hr/daily triangle. The S&P500 was down overnight but continues trading within a weekly Flag pattern. There have been a few new 4hr chart based TC signals that triggered overnight.
USDX daily: Price action tested the key 95.50 but this support has held for now:
USDX weekly Cloud: price action remains stuck in the weekly Cloud:
EURX weekly Cloud: watch this space though as price action is trying to break up and out from this resistance for the first time in two years:
Gold: this TC signal is up $30 but potential major resistance is just ahead from a five year bear trend line. Any break and hold above this trend line would have me looking for a test of $1,500 level as this is a whole number psychological level and near the monthly chart’s 61.8% fib:
Gold 4hr:
Gold monthly:
S&P500 weekly: this index is still ranging within a Flag pattern for now:
FOREX:
EUR/USD daily: going nowhere quickly. Note the lack of momentum:
E/J 4hr: there was a new 4hr TC SHORT signal here during my night:
A/U 4hr: consolidating within a triangle. Watch trend lines for any breakout:
AUD/JPY 4hr: a Yen based TC SHORT signal here too and price is testing the 75 level again so watch to see if it holds at all:
GBP/USD 4hr: I had previously suggested that SHORTing from 1.35 after any weekly close below this S/R level could be a good trade idea. You’d be up 500 pips if you did just that!
NZD/USD daily: a bit messy BUT still holding above the longer term S/R level of 0.70:
USD/JPY: another Yen pair that gave a new 4hr chart TC SHORT signal during my night and note the fall through the 101.50 level. Watch for any hold from the 100 level though but, if this fails, keep an eye on the 61.8% fib down near 95/94.50.
U/J 4hr:
U/J monthly:
USD/CAD: this also triggered a new 4hr chart TC LONG signal BUT note the absence of momentum on the daily chart and the developing triangle. Watch the upper triangle trend line here for any reaction. The 1.30 remains a magnet here too:
USD/CAD 4hr:
USD/CAD daily:
EUR/AUD weekly: a longer-term pattern forming up here with a triangle on the weekly chart:
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