Revised trend line with US$ weakness.

The US$ has started the week with some weakness and this has helped some great trend line breakout moves. Watch today with AUD Monetary Policy Meeting Minutes and the swathe of GBP data including CPI plus US Building Permit data. Second tier EUR GDP and Trade Balance data might impact too.

USDX weekly: a bearish candle to start the week. Watch for any make or break of the 3-year support trend line:

USDXweekly

USDX daily: watch the recent support trend line for any make or break too:

USDXdaily

FX Index Alignment: the FX Indices are back in alignment for what I refer to as ‘risk on‘ so watch for any hold of this pattern and, then, for follow-through. Don’t be surprised if the cross pairs become a bit choppy if this US$ weakness continues.

Trend line breakout trades:

FTSE-100 4hr: this triangle breakout move has kept going:

FTSE4hr3

USD/MXN: a triangle breakout on the 4hr chart could have been picked up during the US session on the 15 min chart with the new TC SHORT signal for up to 650 pips:

USD/MXN 4hr:

USDMXN4hr

USD/MXN 15 min:

USDMXN15min

USD/CNH: a triangle breakout on the 4hr chart could have been picked up during the US session on the 15 min chart with the new TC SHORT signal for up to 100 pips:

USD/CNH 4hr:

USDCNH4hr

USD/CNH 15 min:

USDCNH15min

EUR/USD: this Flag breakout has given 100 pips but the picture story here is that a daily chart triangle trend line is coming under pressure and this triangle is worth up to 700 pips. Thus, keep an eye on this upper trend line for any make or break from here. Watch today with second tier EUR GDP and Trade Balance data:

EUR/USD 4hr: a 100 pip breakout move:

EU4

EUR/USD daily: watch this triangle trend line for any make or break:

EUdaily

EUR/JPY 4hr: a 70 pip move thus far:

EJ4

GBP/JPY: this gave a 70 pip move from the breakout of the w/e Flag up to test the key 147 level. I’ve been noting this 147 level as major S/R for some time now and it has kept price in check once again. Note the new Flag on the 4hr chart now and watch this with all the GBP data out later today:

G/J 15 min: a new TC LONG signal triggered yesterday with this Flag breakout:

GJ15

Note how the move peaked at the 147 level:

GJ15min2

and then retreated:

GJ15min3

G/J 4hr: a new Flag has been drafted here now so watch for any make or break with all today’s GBP data:

GJ4hr

USD/TRY: a triangle breakout on the 4hr chart could have been picked up during the US session on the 15 min chart with the new TC SHORT signal for up to 140 pips:

USD/TRY 4hr:

USDTRY4hr

USD/TRY 30 min:

USDTRY30min

Oil: this 60 min chart triangle breakout move has continued and note the great 15 min chart TC LONG that triggered yesterday:

Oil 60 min:

Oil60min

Oil 15 min: a great TC LONG signal triggered here yesterday:

Oil15min

Other Forex:

Gold: the 50 % fib held for the daily chart pullback but watch now for any bounce on the 4hr chart up to the 61.8% fib as this is near the key S/R level of $1,265:

Gold daily:

GoldDaily

Gold 4hr:

Gold4hr

AUD/USD daily: watch the descending wedge for any make or break. Watch today with AUD Monetary Policy Meeting Minutes:

AUdaily

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

AJ4

NZD/USD 4hr: watch this wedge for any make or break. There is GDT Price Index data to monitor here tonight:

Kiwi4

GBP/USD 4hr: watch this revised wedge for any make or break and especially today with the swathe of GBP data including CPI:

GU4

USD/JPY 4hr: watch this revised Flag for any make or break:

UJ4

USD/CAD 4hr: watching to see if this breakdown continues:

Loonie4hr

GBP/AUD 4hr: watch this revised Flag for any make or break:

GA4

GBP/NZD 4hr: watch this revised Flag for any make or break:

GN4hr

EUR/AUD 4hr: watch this revised Flag for any make or break:

EA4

EUR/NZD 4hr: watch this revised Flag for any make or break:

EN4hr

Silver daily: the bounce off support is holding so watch for any continuation; especially if US$ weakness picks up at all:

SilverDaily

USD/ZAR: the bounce down from the 16-month bear trend line continues and note how the 15 min chart gave a great TC SHORT here yesterday for over 1,000 pips!

USD/ZAR daily:

USDZARdaily

USD/ZAR 15 min: a great 1,000+ pip TS SHORT signal triggered here; the first signal for the day and the best one!

USDZAR15min