The US$ chopped lower during the Asian session but recovered during the US session which has kept some FX pairs choppy with the exception of the GBP/USD and some GBP pairs. Whilst the prospect of Jackson Hole might be keeping the US$ and some FX pairs nervous it seems that Mrs Cable is on a mission! Stocks pushed higher after decent US Housing data and I’m still looking for any NASDAQ August close above 5,200 to underpin a new market move. FWIW: The trends currently forming up on my various stock charts are clearer than those that I’m seeing across FX charts.
USDX 4hr: down and up over the last 24hrs:
AMAT: this is just one of my stocks that is trending quite nicely at the moment, much better than what I’m seeing across FX. My other tech stocks, INTC, MU and CISCO, are doing well too:
S&P500 30 min: choppy too but gave a bit of a decent run:
Oil weekly: still choppy under the $50 level:
Gold 4hr: continues to consolidated:
E/U 4hr: little clarity here still for now and I’ve revised trend lines:
E/J 4hr: one thinks that something has gotta give here sooner or later:
A/U 4hr: I’m still open to more of a dip here:
A/J 4hr: still rudder-less here:
GBP/USD 4hr: onward and upwards. Watch to see if she can get over this resistance zone. Success would be bullish and suggest a move up to the previous high:
NZD/USD 4hr: no new TC signal and it has not closed the day above the key 0.73 level. It might take until Friday’s Jackson Hole meeting before we see a clear make or break of this 0.73
U/J 4hr: much like the E/J. Something brewing?
USD/CAD 4hr: I’m still looking for a test of 1.30: