The US$ recovery has continued with some decent durable goods data and hope vested in the Trump tax reform plan. I’m certainly no accountant but I can’t see how tax cuts and increased spending without increasing debt adds up??? Thus, keep a close eye on this recent US$ recovery effort.
Data: watch today with speeches from the BoJ Gov Kuroda and BoE Gov Carney and for impact from USD GDP and Weekly Unemployment Claims.
NB: this will be the last full update for a month as I leave for holidays tomorrow morning.
NASDAQ: I gave some presentations a couple of years ago expressing my bullish sentiment on the NASDAQ index and the gain from stocks I profiled has been over 80%. Check out this post for a summary of this performance.
USDX daily: price has recovered over the weekly 200 EMA so watch to see if this holds:
USDX weekly: any hold above the weekly 200 EMA would have me looking for a push back to the weekly 61.8% fib, near 100 S/R:
EURX weekly: looking heavy but watch to see how the Flag fares by week end:
TC Signals: there have been a few decent TC signals during the last session:
Gold 15 min: for 1.5 R but too big a Stop for my liking:
EUR/USD 15 min: for 3 R! Note the small Stop needed!
USD/JPY 15 min: just 1.5 R before reversing:
Trend line breakouts: there have been two new breakouts and continuation with some others:
Gold 4hr: a new move for 100 pips; to go with the TC signal noted above. Watch the $1,280 for any new make or break:
USD/JPY 4hr: an 80 pip breakout but price has now pulled back to the weekly trend line:
EUR/USD 4hr: now at 150 pips:
AUD/USD 4hr: now at 80 pips. Watch the 0.78 level:
USD/CNH 4hr: The exotics are sure enjoying this USD move. This is now at 500 pips:
USD/TRY 4hr: now at 670 pips:
Other Forex: watch for any new trend line breakouts:
EUR/JPY 4hr: revised trend lines and the 133 level here:
AUD/JPY 4hr: watch the 89 level as well:
NZD/USD 4hr: revised trend lines here too after the RBNZ update. Watch 0.72:
GBP/USD 4hr: watch the 1.35 level too:
GBP/JPY4hr: watch the 150 level too:
GBP/AUD 4hr: watch the 1.75 level too:
EUR/AUD 4hr: watch the 1.50 level too:
Oil: watch to see how Oil negotiates this major bear trend line:
Oil 15 min: