FX: waking up & TC delivers big!

There have been a number of trend line breakout trades and great new TC signals over the last 24 hours. Whilst a number of these came from the FX cross pairs the recent Flag break on both FX Indices might be able to take some credit as well. The week is not yet competed but the weekly Flags on the FX Indices must certainly offer some hope to FX traders!

I have been warning caution was needed whilst the FX indices remained trapped in their respective Flag patterns and I’m sure it is no coincidence that the test of these patterns has coincided with the revival of TC trend signals. Conserving capital when markets are slow and not trending makes perfect sense and my TC system incorporates this prudence!

USDX weekly: the Bear Flag is shaping up here BUT watch for the weekly candle close to confirm. Watch for impact from today’s US CPI and Retail Sales data:

EURX weekly: the Bull Flag is shaping up here BUT watch for the weekly candle close to confirm. Watch for impact from today’s EUR Trade Balance data:

TC & Trend line breakout trades: there have been a few great trades this week:

EUR/NZD:

EUR/NZD 4hr: a great trend line breakout for 340 pips:

EUR/NZD 15 min: a 10 R trade result!

EUR/AUD:

EUR/AUD 4hr: a 150 pip breakout here BUT watch the major 1.55 S/R level now for any new make or break:

EUR/AUD 15 min: a great trade for over 2R:

EUR/JPY:

EUR/JPY 4hr: a 130 pip breakout result:

EUR/JPY 15 min: a 2 R trade here yesterday as part of this overall move:

NZD/USD:

NZD/USD 4hr: just 70 pips on this trend line break BUT watch the 0.68 level for any respect:

NZD/USD 15 min: despite the small move this gave a 2 R TC signal yesterday:

Oil:

Oil 4hr: price has rejected the weekly 200 EMA:

Oil 15 min: a great low-risk TC trade here yesterday for 14 R:

Other Trend line breakouts:

EUR/USD 4hr: this move has continued from last week and is now at 200 pips. Watch the major 1.18 level now for any new make or break:

ASX-200 15 min: a 2R trade here yesterday after rejecting the 6,000 level:

Other FX:

AUD/USD 4hr: note how the daily 61.8% fib keeps supporting price here. Watch this, and trend lines, for any new make or break. There is a bit of second tier data here today to monitor:

AUD/JPY 4hr: watch this for any make or break at trend line support:

GBP/USD 4hr: keep watch here for any trend line breakout especially with today’s GBP Employment data:

USD/JPY 4hr: ditto:

GBP/JPY 4hr: watch the 150 level here for any new make or break:

GBP/AUD 4hr: watch trend lines for any new breakout:

GBP/NZD 4hr: watch for any continuation here:

USD/MXN 4hr: I don’t focus on this pair much anymore but peso traders should keep an eye on these trend lines:

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