FX, momentum & the US$.

The US$ looks set to print an indecision-style ‘Inside’ candle but continues to hover above 95.50 support. There hasn’t been too much FX activity, with little momentum evident on many pairs, and I suspect this situation could remain until there is a decisive breakout on the US$ index. Today brings CNY Trade Balance data, US PPI and another Fed Chair Yellen testimony so watch to see if either of these events do the business!

USDX: watch for any make or break at the 95.50 level:

Trend line breakout tally:

AUD/USD 4hr: limped on to give 70 pips. Watch the 0.77 level for any new make or break:

USD/JPY: this broke trend line support for 70 pips but did not give any new 15 min SHORT. I take this as a bit of a warning! Note the revised 4hr chart trend lines:

GBP/AUD 4hr: this has now given 170 pips:

EUR/AUD 4hr: has broken down for 90 pips but no new 15 min TC SHORT here either:

USD/CNH: this has given 160 pips but the most recent SHORT off the 15 min chart needed too large a Stop. The better 15 min TC SHORT came late on the previous day. Keep an eye now on the daily support trend line:

USD/TRY: this pair has been busy this week with a great breakout LONG and now another move SHORT. The move gave 400 pips but the 15 min chart TC signal needed too large a Stop:

USD/TRY: before and after shots of the 4hr chart:

USD/TRY 15 min: like with the USD/CNH, the most recent TC SHORT off the 15 min chart needed too large a Stop and a slightly better, Optimal TC signal, came late on the previous day:

Other FX: many FX pairs show little momentum on their 4hr time frame so care is needed trying to read any breakout move on lower time frame charts.

EUR/USD 4hr: revised trend lines here. I suspect the whole planet is watching this and the 1.15 level! This level has been resistance for 2 1/2 years so I suspect it won’t be given up too easily:

EUR/JPY 4hr: revised trend lines here so watch these and the 130 level:

AUD/JPY 4hr: watch the Flag trend lines and 87 level:

NZD/USD 4hr: watch the Flag trend lines and 0.72 / 0.73 levels:

GBP/USD 4hr: watch the Flag trend lines:

GBP/JPY 4hr: revised trend lines here so watch the Flag trend lines and 147 level:

GBP/NZD 4hr: watch the Flag trend lines:

EUR/NZD 4hr: revised trend lines here after price action respected the 61.8% fib so watch these Flag trend lines for any breakout move:

Commodities:

Gold 4hr: watch to see how the US$ moves and the revised trend lines here:

Silver 4hr: still messy:

Oil 4hr: revised trend lines to monitor here too:

Stock Index Charts:

ASX-200: a 4hr triangle and a smaller 15 min chart one:

NASDAQ-100 4hr: at resistance on the 4hr chart:

FTSE 4hr: a wedge breakout already so watch the 7,450 level for any new make or break:

DAX 4hr: a breakout here already too:

DJIA 4hr: watch the Flag trend lines for any new breakout:

S&P500 4hr: a new breakout just starting?