GBP, FTSE and USD get going.

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:

Gold 4hr:

Silver 4hr:

Oil 4hr:

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 4hr:

GBP/USD daily:

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:

Other Forex:

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 4hr:

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 4hr:

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 4hr:

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 4hr:

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: