There is a saying for those who enjoy a glass of wine, or similar, that it’s always 5 o’clock somewhere and it’s much the same with TC. Whilst there were few trends to trade on FX pairs during the last session there were plenty to trade across on the stock indices.
TC signals: The stock indices excelled here last session for low risk: high reward trade set ups:
S&P500 15 min: a 4 R trade signal:
DJIA 15 min: a 3.5 R trade result:
NASDAQ-100 15 min: a huge haul here with a 10 R trade result:
FX Indices: IMHO: there won’t be much clarity or movement on FX pairs until these FX Indices get their skates on!
USDX weekly: traders still need to see how this Flag unfolds and how price breaks from the weekly 200 EMA:
EURX weekly: traders still need to watch how this Flag unfolds as well:
Forex: keep watching the following consolidation pattern trend lines for any new breakout. There is a Fed Chair Yellen speech, USD Core Durable Goods, USD Weekly Unemployment Claims, FOMC Meeting Minutes and a GBP Autumn Forecast Statement to monitor in the coming session:
AUD/USD 4hr: the 0.755 level has held here:
AUD/JPY daily: this has stalled near 85 S/R.
NZD/USD 4hr: plenty of peeps bearish here but, IMHO, this looks like a rather bullish set up with the descending wedge pattern!
GBP/USD 4hr: watch for any momentum-based breakout:
GBP/JPY 4hr: something has gotta give here soon!
The cross pairs: I mentioned in my w/e analysis that these cross pairs might be choppy this week following on from the big moves last week. That is what we’ve seen thus far.
GBP/NZD 4hr: watch that weekly 200 EMA!
EUR/AUD 4hr: watch the 1.55 major S/R level.