Thursday’s FX trading was primarily defined by a stronger US$, helped by US data and Fed comments & in spite of Trump comments, with only the GBP£ as the real stand out against this trend. Four more trend line breakouts triggered but, overall, the week has been pretty choppy with this US$ see-saw action.
USDX daily: this is back above the key 100 level but has Ichimoku Cloud and 102 resistance ahead.
More trend line breakouts:there were four more breakout trades:
Gold 4hr: 55 pips:
U/J 4hr: 40 pips for now but watch for any continuation to test of the 113 S/R and 50% fib region; as noted in my w/e analysis:
GBP/NZD 4hr: 100 pips and note the bounce up from the key 1.77 level:
EUR/NZD 4hr: this move continued lower and has now given 110 pips
Other FX:
EUR/USD: I’d mentioned I was looking for further weakness here and stalking the 15 min chart for this proved useful:
EUR/USD 4hr:
EUR/USD 15 min: snapped before my bed time:
EUR/USD 15 min: the result this morning:
AUD/USD: choppy:
EUR/JPY 4hr: consolidating:
AUD/JPY daily: ditto:
NZD/USD 4hr: ditto:
GBP/USD: made a decent recovery despite the stronger US$. The 15 min chart, noted yesterday with guideline trend lines, would have been useful although there was no clean-cut new TC signal here:
GBP/USD 4hr:
GBP/USD 15 min:
GBP/JPY: This continues consolidating on the 4hr time frame but, during such periods, I’m finding the 5 min chart more useful for picking up movements on these higher yielding pairs:
GBP/JPY 4hr:
GBP/JPY 5 min: this time frame seems more useful than even the 15 min chart:
USD/CAD 4hr: consolidating but choppy as it goes:
GBP/AUD 4hr: putting in a bounce of fib support:
EUR/AUD: this is lower and the 15 min was useful here overnight too:
EUR/AUD 4hr:
EUR/AUD 15 min: snapped before bed:
EUR/AUD 15 min: reviewed this morning:
USD/MXN 4hr: holding steady for now:
USD/CNH 4hr: a breakout building?
USD/TRY 4hr: steady at the moment:
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