US$ weakness shapes some great TC signals: By Mary McNamara

The US$ weakened over the last trading session and this helped to trigger some decent TC signals. It might be a quiet close to the week given the US Thanksgiving holiday and there is only GBP Second Estimates GDP to come today as scheduled high impact data.

USDX weekly: price is trading below the weekly 200 EMA but watch to see where it closes for the week. The next potential support levels will be from the 92.50 level and then the recent low.

USDX daily: watch 92.50 and the recent low:

EURX weekly: watch for any momentum-based trend line breakout:

TC signals and/ or Trend line breakouts:

Gold: price is back up near the 4hr chart’s bear trend line and momentum is ticking higher.

Gold 4hr: watch for any trend line breakout:

Gold 15 min: the first signal in the European session was a good one for 120 pips and 6R after the break of $1,280 S/R:

EUR/USD: a 4hr trend line breakout and a choice of two low-risk TC signals:

EUR/USD 4hr: this is up 55 pips at the moment:

EUR/USD 15 min: there were two mid-pattern TC signals but both were low-risk so enticing for a decent 4R minimum result:

GBP/USD: there has been a trend line breakout here so watch for any decent follow-through:

GBP/USD 4hr: 60 pips for now:

GBP/USD 15 min: an ideal set up with a new TL breakout and new TC signal that is at 2 R for now:

USD/JPY: a down day for this pair and the weakness triggered early on during the Asian session.

USD/JPY 4hr:

USD/JPY 15 min: this signal triggered in the higher-risk Asian session, HOWEVER, it was low risk set that triggered after rejection of a trend line that ended up giving 5R!

Other Forex:

EUR/JPY 4hr: a bit weaker so watch bottom trend line:

AUD/USD 4hr: watch for any momentum-based trend line breakout here:

AUD/JPY 4hr: keep an eye on the 85 level:

NZD/USD 4hr: I’d mentioned yesterday that this was a bullish pattern setting up on the Kiwi. Thus, watch for any momentum-based trend line breakout here: