I posted a separate article about the US$ index this morning and suggested watching for any break up through the 61.8% fib. This resistance seems to be keeping the index in check for the time being and this has meant that the expected FX vulnerability with the stronger US$ hasn’t taken a strangle hold grip just yet. As well, the EURX is holding on for dear life to the major 96 level for now. There are G7 meetings to watch for over the next few days BUT USD Prelim GDP is most likely the main event item for this week and this isn’t released until Friday.
USDX 4hr: respecting the 61.8% fib for now. A break of this would bring the 78.6% fib into focus and then the 100 level:
EURX daily: the 96 is a MAJOR S/R level and the index isn’t letting go of this just yet:
Silver: gave a bearish triangle break but note how it has stopped at the 61.8% fib too:
Gold 4hr: also gave a bearish break but found some small comfort from the previous S/R level of a triangle trend line and the $1,180 level:
E/U 4hr: the 61.8% fib is holding here for now too:
U/J daily: we’ve finally got the bullish ascending triangle breakout. I’ve an order to LONG in at 122 as I’m hoping for a test of the broken trend line:
U/J 4hr:
A/U 4hr: still seeing a channel of sorts:
Kiwi 4hr: down but not collapsing, just yet that is:
Cable 4hr: ditto here too:
Cable daily: don’t laugh BUT re-jigging the trend lines and this could now just as easily be viewed as a Bull Flag!
EUR/NZD 4hr: hugging the 1.50 level:
GBP/AUD 4hr: hanging out near the major monthly triangle trend line but no new TC signal:
GBP/NZD: hanging in just above the key 2.10 level:
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