A very brief update as I’m on the road still. I still think the USD movement from here will be critical to understanding how the major pairs will move from here. Continued bullish USD behaviour might continue to drag the EUR,AUD and GBP down by vortex effect:
E/U: looking a bit bearish but held above the key psychological 1.30 level last week. Is above the Cloud on the daily BUT only just. Below on the 4hr. No new signal yet. The USD movement will be key here:
A/U: looking bearish again with a weekly close below the 0.92 level. A trend channel still in place on the daily chart. I got a sell signal late last week but missed it. Still a tough one to play with Aussie political situation but continued poor Chinese data and gossip isn’t helping either:
E/A: This pair has bounced off the 1.40 support and daily chart bull trend line levels. I got a new signal late last week but missed it. We’ve had a monthly candle close now above the key 1.40 level but this may then be tested again before any longer term continued upward momentum:
G/U: The monthly chart still has a symmetrical triangle in place. A bullish looking pin bar reversal candle is on the monthly chart too. keep an eye on the USD to guide with this pair. A 4hr and daily trend channel in place so, breaks of this might help guide with the next direction.
Gold: Gold closed the month above the key $1,200 level. It has also closed just above the 61.8% fib retrace from the last swing high. The $1,200 remains the key level to watch here for now: