Most currency pairs remain in their 4hr chart patterns but the TC system was able to snag some pips off choppy movement within some of these congestion zones. The FX indices have respected their S/R zones keeping movement tight ahead of the much anticipated Jackson Hole event.
USDX daily: revised trend lines here:
EURX daily: this respected the monthly 200 EMA again but keep an eye on this and the revised trend lines:
Trend line breakouts:
EUR/NZD 4hr: this has limped along for 120 pips:
NZD/USD: this gave a break for just 45 pips but also gave a TC 15 min signal for 1R:
NZD/USD 15 min:
EUR/USD: I’ve revised the Flag trend lines here. Note the 15 min TC move that triggered but for just 1R. Very slim pickings but, still, they were positive! Watch today’s with the batch of EUR PMIs and the ECB Draghi speech.
EUR/USD 15 min:
AUD/USD: this respected the upper trend line and, in doing so, gave 1 R TC trade off the 15 min charts:
AUD/USD 15 min:
AUD/JPY 4hr: range bound:
GBP/USD: range-bound here but, after a dud TC signal yesterday, this gave a 3R 15 min chart trade today! The advantage here being that this TC signal came with a bounce back down from the resistance trend line and, thus, was more likely to be a higher-probability outcome than yesterday’s mid-pattern signal:
GBP/USD 15 min:
USD/JPY: this has respected support and gave a 2R TC 15 min trade:
USD/JPY 15 min:
GBP/JPY 4hr: choppy:
EUR/AUD 4hr: revised trend lines here:
Commodities: the three of these are range bound but, be patient, and wait for the trend line breakout when it does eventually evolve; up or down!
Gold 4hr: range bound:
Silver 4hr: ditto:
Oil 4hr: ditto:
ASX-200 4hr: watch for any new breakout here. This pattern is going to have give way one day or other!