The big news of the day was the move on the GBP and FTSE following the UK Election announcement but traders should also note that the US$ has failed to hold above the key 100 level. These moves generated great trend-line breakout trades and many good short term chart TC signals.
USDX daily: the US$ has failed to hold above the 100 level and so the next support to watch is the triangle support trend line:
Commodities: Gold, Silver and Oil are all consolidating in various technical patterns so watch trend lines for any momentum breakout:
Trend line breakout trades: it’s of no surprise that the huge move with the GBP has triggered great breakout trades on a number of the GBP pairs as well as on the FTSE-100.
GBP/USD: price has rallied after breaking above the daily chart’s triangle trend line and came to pause at the daily chart’s 61.8% fib! Note the great TC signal trade on the 15 min chart.
GBP/USD 15 min: there was one failed TC signal but this was closely followed by a very productive one:
GBP/AUD: this pair has given a great trend line breakout trade plus a great 15 min chart TC signal:
GBP/AUD 4hr: this was how the chart appeared when I posted yesterday:
This is the 4hr chart today following a huge 500 pip breakout move!
GBP/AUD 15 min: there were two LONG TC signals yesterday:
GBP/NZD 4hr: this was how the chart appeared when I posted yesterday:
This is the 4hr chart today following a huge 370 pip breakout move!
GBP/NZD 15 min: note the one good TC LONG signal:
FTSE-100: this index did not like the UK Election news.
FTSE-100 4hr: this was the 4hr chart as per my post last week:
The bottom trend line gave way during the last session for a 140 point move:
FTSE-100 15 min: there was a great TC SHORT signal here:
EUR/USD: this pair is enjoying the bit of US$ weakness and note how the 15 min chart helped here with a new TC LONG signal:
EUR/USD 15 min: there was one failed signal before the better LONG signal:
EUR/JPY 4hr: the bounce continues:
AUD/USD 4hr: consolidating within a triangle so keep an eye on the trend lines for any momentum-based breakout:
AUD/JPY 4hr: messy at the moment:
NZD/USD 4hr: like the EUR/USD, this pair is enjoying the bit of US$ weakness:
USD/JPY 4hr: messy at the weekly 200 EMA support level (green line):
GBP/JPY: this has continued to bounce off the noted support and the 15 min chart gave a decent TC LONG signal here:
GBP/JPY 15 min: Just one LONG TC signal on Tuesday:
USD/CAD 4hr: back up testing this major multi-month bear trend line:
EUR/AUD: this has continued to bounce up form the long term 1.40 support level and yesterday there was a great 15 min chart TC LONG signal:
EUR/AUD 15 min: one great signal that triggered during the Asian session with AUD weakness
EUR/NZD 4hr: ranging within the wedge:
USD/TRY 4hr: ranging within the triangle:
USD/MXN: has tested the upper trend line again. There were two productive TC signals on the 15 min chart time frame although overall action was very choppy:
USD/MXN 15 min:
USD/CNH 4hr: consolidating within a triangle:
ASX-200 4hr: watch for any support from the 5,800 level and, if that gives way, then watch the 61.8% fib near 5,780: