The US$ has continued to weaken but the index remains range bound for the time being, hence today’s title. I need to see a break and hold below this 12 month+ trading channel before being confident that the US$ might continue on this tangent. Stock indices are printing new highs but many FX pairs remain in consolidation mode and, possibly like me, they’re waiting for a more convincing sign.
NB: I have a busy w/e and further updates might be delayed until Monday.
USDX weekly: a close and hold below 92.50 would have me thinking US$ weakness might be around for a bit longer. The FX Indices are still aligned for ‘risk-on‘ for the time being though:
Oil daily: first the bullish wedge break out and the the 21-month TL break out. Watch for any hesitation as price nears the 61.8% fib and daily 200 EMA region:
S&P500 weekly: getting rather interesting here! A break and hold below 92.50 for the US$ index AND a close above this Bull Flag would be a rather bullish signal and definitely one to watch for!
Gold 4hr: the TC signal closed off with the FOMC reversal but that at least was after giving 100 pips. Watch the triangle TL here:
FOREX:
E/U daily: higher after FOMC but now at a daily chart triangle trend line and recent ‘Double Top’ region. However, I have not received a clean TC LONG on the 4hr chart:
E/J 4hr: consolidating around the 126 S/R level:
A/U 4hr: a new TC LONG signal came through yesterday but hasn’t moved too far just yet:
A/J 4hr: consolidation here too:
GBP/USD: note the bounce up from the 61.8% fib! Brexit seems so yesterday!
G/U 4hr:
G/U 30 min: the moves here are best caught in the late London and US sessions:
NZD/USD : back at a critical S/R level so watch for any make or break from this region:
Kiwi daily:
Kiwi monthly: watch for any Flag TL breakout:
U/J 4hr: a new TC SHORT signal came through here yesterday too but note the support here now. Watch for any make or break from this 111 region:
GBP/JPY 4hr: consolidation here too:
USD/CAD: this has closed below the daily support trend line and is also currently below 1.30. Watch for any weekly close below these levels to support a potential deeper pullback:
Loonie 4hr:
Loonie daily:
EUR/NZD daily: consolidating here still too:
GBP/NZD daily: ditto here:
GBP/AUD 4hr: bouncing within a descending wedge:
EUR/AUD daily: respecting a bear TL for the time being:
EUR/GBP weekly: I do think the 0.80 level will be hit here soon:
AUD/NZD monthly: keeping an eye on this one too:
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