The EUR/USD caught the headlines overnight following the ECB meeting but what of the other currency pairs? Some have caught the coat tails of the ECB-inspired move but others remain quite mute. There is more EUR data on Friday with French and German Manufacturing PMI data and also CAD CPI to watch for. Next week brings a lot of high impact data however with three Central Banks reporting but Wednesday’s FOMC will most likely be the highlight event.
E/J 4hr: this has fallen sharply too with the ECB dovish comments and a TC signal from yesterday got a boost from this news. Note the break of the triangle TL that I’ve been stalking here for AGES.
E/J daily: the bottom TL looks likely to break with this daily candle close but 134 support is nearby. One would have to think that if 134 gives way then this would help the triangle breakdown. Next week brings FOMC and the BoJ interest rate update so this pair might be worth watching with/after those updates. The triangle is worth over 2,000 pips and so any breakdown could be productive:
A/U 4hr: this has traded fairly flat. It is hanging near a MAJOR S/R region though of the significant monthly-chart fibs and the monthly support trend line. There is AUD CPI and PPI data next week but, also, a raft of USD data to impact here with FOMC being the lead of these:
A/U monthly Cloud: this chart puts the trend line and fibs in perspective. The monthly candle will close at the end of next week but, for now, the A/U candle is bullish and engulfing. Worth keeping an eye on:
A/J 4hr: catching some of the U/J love:
Kiwi 4hr: just doesn’t seem to want to fall. Next Tuesday’s NZD Trade Balance and /or Thursday’s RBNZ Interest Rate announcement might give this a move along. The raft of USD data will factor in here too:
Cable 4hr: still below the 1.55 S/R level. Next week brings GBP GDP and this may help shift the pair but, otherwise, it might react to the huge volume of USD-based data:
USD/JPY daily: this is up near the top trend line here and worth watching into next week:
GBP/JPY daily: this has been helped by the U/J move too and finally looks set to close above the daily 200 EMA resistance zone:
EUR/NZD weekly: this has finally reached the 50% fib and weekly 200 EMA target:
USD/CAD 4hr: this hasn’t done too much since the triangle breakout but watch later today with CAD CPI. Otherwise, it might be fairly quiet until next week’s US data and FOMC. The 1.30 level remains a key S/r level here:
GBP/AUD 4hr: not doing too much, but, neither are the GBP or AUD!
GBP/NZD 4hr: I had suggested this might test 2.30 before further bearish movement and this move has now delivered over 300 pips since bouncing down from this key S/R level. This remains the level to watch though into next week:
S&P500 30 min: a nice rally after upbeat McDonald’s earnings and helped by thoughts of further ECB stimulus too. Decent results from Microsoft, Google and Amazon after the market close should help support stock markets for Friday’s trade:
S&P500 daily: that bullish cross was on the money!
Gold 4hr: still consolidating under the $1,200 level. It might continue to do so until next week’s FOMC:
NB: I am away for the w/e and updates will be brief and few.
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