The US$ is a bit higher again today but still faces some stiff resistance from the weekly 200 EMA. There have been a couple of new trend line breakouts but these aren’t too convincing just yet. I suspect that any US$ recovery above the weekly 200 EMA might impact broader FX momentum.
Data: watch today for USD Core Durable Goods, Crude Oil Inventories and a CAD BoC Gov Poloz speech. Remember the RBNZ rate update is in just 24hrs; early tomorrow morning.
USDX daily: now watch the weekly 200 EMA for any new make or break:
EURX weekly: still a Bull Flag for the time being:
Trend line breakouts:
USD/CNH: this breakout is now at 500 pips for the week. This pair also gave a great TC 15 min chart signal for over 7 R during the last session. This is the kind of trade I urge TC traders to watch out for; that is, a new TC signal emerging out of sideways markets and with a trend line breakout:
USD/CNH 4hr: now 500 pips for the week:
USD/CNH 15 min: there were two TC signals but waiting for the break of the more recent trend line would have been wise here and still allowed for an over 7 R trade!
EUR/JPY: still at 150 pips but I forgot yesterday to post the decent TC 15 min signal that came with this move:
EUR/JPY 4hr: still at 150 pips:
EUR/JPY 15 min: the great TC signal that came with this move:
EUR/USD: now at 120 pips and this gave a great 4 R TC signal in the European session. Any continued hold below 1.18 would suggest a deeper pullback, as per my weekend notes:
EUR/USD 4hr:
EUR/USD 15 min: there was a great TC 15 min signal here last session for 4R!
USD/TRY 4hr: still at 370:
GBP/AUD 4hr: a tepid breakout move but watch the major resistance zone above:
AUD/USD 4hr: this is just a weak move lower for 40 pips, for now that is!
NZD/USD 4hr: similar here but at 60 pips. Watch this 0.72 level with tomorrow’s RBNZ rate update:
Other Forex:
AUD/JPY 4hr:
GBP/USD 4hr:
USD/JPY 4hr: loking a bit like a Bull Flag as it sits below a weekly chart trend line:
GBP/JPY 4hr: still negotiating this major 150 level:
GBP/NZD 4hr:
EUR/AUD 4hr: the 1.50 remains a HUGE S/R zone here:
EUR/NZD 4hr: still consolidating:
AUD/NZD 4hr: revised trend lines here:
Commodities:
Gold 4hr: ditto:
Silver 4hr:
Oil 4hr: testing this major breakout zone so watch for any new big make or break:
