The US$ is still trading higher for the week but didn’t receive any help from last night’s weaker than expected US Building Permits data. Silver has weakened but Gold has held up pretty well. US stocks were weaker following the lead from US data and the earnings miss with Wal-Mart. Many FX pairs remain choppy and there isn’t a whole lot to interest me here at the moment. I’m kind of glad I’m going away for the weekend!
USDX 4hr: still within a weekly Flag but pulling back this week. Keep an eye on the 61.8% fib:
EURX 4hr: ditto here:
S&P500: down on the day but still above the daily Cloud:
Silver 4hr: much weaker but, however, keep an eye on the 61.8% fib. I’m reading that renewed concern about a potential China slowdown fueled this move:
Gold 4hr: holding up relatively well and is fairly steady under the 4hr 200 EMA but near the monthly pivot:
Forex: there is US CPI data and FOMC minutes tonight to watch out for to see if one or other impacts the US$ at all.
E/U 4hr: pulling back but, also, watch the 61.8% fib here too:
E/J 4hr: ditto here:
A/U 4hr: back below 0.735:
Cable: this had looked like it might rally after last night’s GBP CPI but, again, there has been little follow through. I’m still watching for a momentum based triangle breakout. The trend lines have been relaxed slightly:
Cable daily:
Cable 4hr:
Kiwi 4hr: still in a weekly Bear Flag:
U/J 4hr: still ‘planking’ along the 124 level:
Loonie 4hr: still above 1.30 but a bit of a triangle forming:
GBP/AUD: a triangle breakout but not much else yet. Still choppy above 2.07…as suspected based on the monthly chart:
G/A 4hr:
G/A monthly:
GBP/NZD 4hr: still ranging within the triangle for now. I wrote a separate article about this pair yesterday and this can be found through the following link:
EUR/NZD daily: this has been bouncing off trend lines within an ascending wedge:
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