TC returns with a blast.

Last week: This is my first detailed weekend update since returning from my month in the USA and what a week to be getting back into a groove. There were many great trend-line breakout trades and plenty of great TC signals as well which, following on from a rather quiet and choppy period, was greatly appreciated. Price action pressure on the FX index Flag patterns coincided with the return of these great FX trends and so I’ll be watching to see if these Flags do breakout and help to deliver a return to trending FX markets.

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FX Flags: being tested.

Flag patterns have been brewing on the FX Indices for over three months but both are now coming under pressure. Momentum is building on both Flag patterns so any watch for any sustained breakout as this will have follow-through impact for FX trading. There isn’t a lot of scheduled data for next week and the US Thanksgiving holiday might keep things a bit quiet but watch out for ongoing US tax reform debate to impact here as well.

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