FX Update: Fri 27th.

The US$ has bounced back up from the 100 level and this has had implications for Gold and some currency pairs. This back and forth price action though has set up some further triangles to monitor for breakout action.

NB: I am away this w/e so further updates will be brief.

USDX daily: note that the 100 S/R level gave way but the bottom of the daily Ichimoku Cloud was effective support for the US$:

Some breakouts since previous updates:

USD/TYR 4hr: this Tweet showed price action consolidating within a triangle as per below:

The breakout evolved and has delivered up to 600 pips:

USD/CNH 4hr: this Tweet showed the price action becoming increasingly squeezed and I suggested watching for any momentum-based breakout. This was the chart from that Tweet:

The breakout looks to have started:

GBP/JPY 4hr: this was the chart back when I posted on Tuesday:

This is the GBP/JPY 4hr chart today with a breakout move delivering 220 pips:

TC Signals that are still open:

GBP/AUD 4hr: this TC LONG signal, from earlier in the week, is still going and is now up 350 pips:

Other FX:

Gold 4hr: I noted on Wednesday that if Gold broke through $1,200 then I’d be looking for a move to the 61.8% fib region near $1,160. This test may be looming:

EUR/USD 4hr: the stronger US$ is hurting this pair and price has broken down through a triangle. I don’t have any new TC SHORT yet though so I’ll be watching to see if this continues lower or shapes up into a Bull Flag:

AUD/USD 4hr: much the same here. Lower but no new TC SHORT just yet. I’d expect 0.75 to be tested and this will be the level to watch for any make or break. If 0.75 breaks then look to 0.74 and, then, the 61.8% fib near 0.735:

AUD/JPY 4hr: still consolidating:

NZD/USD 4hr: consolidating within a Flag at the key 0.73 region. Watch trend lines for any momentum-based breakout:

GBP/USD 4hr: the earlier TC LONG has closed off for 280 pips. The Cable is consolidating within another 4hr triangle now though so watch trend lines for any momentum-based breakout:

USD/JPY 4hr: there has been a bullish channel breakout but no new TC LONG signal:

EUR/AUD 4hr: breakouts here keep fading and so I keep adjusting the trend lines 🙁

USD/MXN weekly: there looks to be a bearish reversal Evening Star forming on the weekly but things could change now that President Trump has enacted ‘Wall’ legislation so caution is needed here: