FX radar for Thursday 6th.

The US$ index is about to print its fifth consecutive indecision-style candle; they’ve either been Dojis or Spinning Tops during this time. So, the wait for help with trends across more FX pairs remains.

USDX daily: still above 100 but under 102 and the daily Cloud:

Breakout trades:

USD/TRY: this move has now given up to 640 pips but note how the 15 min chart and my TC algo would have helped scrape some pips here during Wednesday’s US session:

USD/TRY 4hr:

USD/TRY 15 min:

GBP/NZD 4hr: this gave a new breakout that moved 100 pips:

Other Forex:

USD/JPY: I forgot to post a chart yesterday but price action remains pretty choppy on the 4hr chart. However, my TC algo on the 5 min chart worked a treat for traders in the late Europe and US sessions allowing a good bag of pips to be snagged. Not for me though in the Asian session and you can see the sideways chop I was witness to:

U/J 4hr:

U/J 15 min:

Gold: new trend lines to watch on the 4hr chart:

Gold 4hr:

I forgot to post this earlier but here it is now: Note how the TC algo worked well the last two days on the 15 min Gold chart for both LONG and SHORT trades!

EUR/USD 60 min: I’m watching for any make or break from this resistance trend line:

E/J daily: watching the support trend line here:

AUD/USD daily: not much change here but not surprising given the choppy US$:

AUD/JPY daily: not much change here either:

NZD/USD 4hr: still consolidating but keep watch of trend lines for any make or break:

GBP/USD 4hr: ditto here:

GBP/JPY 4hr: I Tweeted yesterday to watch for any test of the 139 level that was also near the 4hr chart’s 61.8% fib. This was the chart from that Tweet:

This 100 pip move evolved in text book fashion!

USD/CAD 4hr: watch this long-term trend line above current price. It tracks back to the highs from January 2016:

GBP/AUD 4hr: still consolidating but keep watch of trend lines for any make or break:

EUR/AUD 4hr: ditto:

EUR/NZD 4hr: ditto:

USD/MXN 4hr: dittto:

USD/CNH 4hr: testing this upper trend line ahead of the meeting between the Chinese and US Presidents.