The US$ remains weaker following the dovish FOMC but the EURX hasn’t made much mileage out of this reprieve given the ongoing Greece debt situation. It seems we now have to wait until Monday for the next installment of this true Greek tragedy. Stocks, Gold and Silver have started to celebrate the weaker US$ but currencies seem more guarded due to the Eurozone situation. Two TC signals though have now given over 900 pips.
EURX daily: an indecision style Doji for the day given the uncertainty with Greece. Watch for any triangle breakout; bullish or bearish:
USDX daily: has not made any gains even with increased Greece-related concern and that is rather telling!
S&P500 daily: there has now been a bullish wedge/flag breakout so watch for any new bullish Tenkan/Kijun cross:
S&P500 30 min: this gave a great low risk/high reward 30 min trend trade during the US session:
Silver 4hr: has bounced up off $16 support so watch for any trend line breakout:
Gold daily: this has made a quantum-style leap up to the next support level at $1,200:
TC Signals: the gains here are over 900 pips now!
Cable 4hr: up 500 pips and if your wondering why it has stopped at this seemingly unusual level….scroll out to the weekly chart!
Cable weekly: price has stalled at the 50% fib of the recent swing low move. Where are all the Fibonacci skeptics???
GBP/JPY 4hr: this has stalled after giving 430 pips. I still see the 200 level as a possible target here::
G/J monthly: 200 is near the 61.8% fib of the big 2007-2011 swing low move:
E/J 4hr: this closed off for -20. I had mentioned though that I’m leaving EUR-based TC signals until after this current bout of Greek-debt dealing is finished:
E/U 4hr: there was a new TC signal here yesterday but I’m avoiding this too for the same reasons as above:
E/U daily: I’d also rather see a breakout from this daily triangle first:
Other FX: We have BoJ interest rates today and also EUR ECOFIN meetings.
A/U 4hr: has broken above the 4hr 200 EMA:
A/J daiy: coiling towards the apex here. Will BoJ news trigger any breakout?
Kiwi 4hr: another one for the Fibonacci skeptics! This has stalled at the 50% fib of the 2009-2011 swing high move, best seen on the monthly chart:
Kiwi monthly: showing the 50% fib in action:
U/J 4hr: stranded between 124 and 122 ahead of BoJ. Note how price is being supported by the 50% fib of the recent swing high move! The 4hr 200 EMA and monthly pivot are helping out too:
GBP/NZD: I wrote a separate article about this pair yesterday where I noted the importance of the 2.30 level as it is the interaction of a major bear trend line and the top of the monthly Cloud.
G/N monthly: the 2.30 level is the interaction of a major bear trend line and the top of the monthly Cloud:
G/N 4hr: this chart shows price action stalled at this 2.30 region. Price could chop around this level for some time whilst it negotiates its next big move:
G/N monthly Cloud: price is negotiating the top of the Cloud:
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