The US$ slipped a bit following weaker than expected US retail sales and this has helped to support the EUR ahead of the Greek Parliament bail-out vote. The GBP has rallied though on the back of BoE rate-hike comments despite some soft inflation data. Gold and Silver still look vulnerable as they hover above major support but stocks have continued to rally on Greek-deal hopes. There is a lot of high impact data out today, including the result of the Greek Parliament vote, and the combined effect of these may change the landscape across Forex charts quite considerably.
USDX weekly: still a possible Bull Flag:
USDX 4hr: price has respected the upper trend line:
EURX weekly: still a possible Bear Flag:
EURX 4hr: really just chopping sideways:
S&P500 daily: price is back above the Cloud which is bullish. Watch for any new bullish Tenkan/Kijun cross:
Silver daily: hovering above $15 support:
Gold daily: hovering above $1,145 support:
TC Signal: this E/U signal closed off as the expected support from the trend line did kick in:
E/U daily: the trend line support was effective again:
E/U 4hr: I had warned against this signal given the looming Greek Parliament vote and because of the support trend line:
Other FX: Apart form GBP pairs there hasn’t been too much movement given looming Greek Parliament bail-out vote. There is a lot of high impact data out today so check your trading calendar.
U/J 4hr: loitering under the key 124 level ahead of today’s BoJ interest rate announcement:
A/U 4hr: a ‘Double Bottom’ forming? Today’s CNY GDP might fuel a move here:
Kiwi 4hr: no new TC signal here and price is still hanging on to the 0.67 level. Watch for reaction to today’s Chinese data:
Cable 4hr: the bullish descending broadening wedge was on the money here! The GBP rallied following BoE comments about future rate hikes and there is Employment data out tonight which might dictate whether this momentum can be sustained:
GBP/AUD monthly: this is taking on the monthly 200 EMA:
GBP/NZD 4hr: no new TC signal but a bit of a triangle breakout and still above the 2.30 level:
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