Trade Week Analysis for 15/07/13

NB: This is only a brief update as I am still away.

NB: There is Chinese GDP data released on Monday at 12 noon (Sydney time), as well as a bunch of other bits of Chinese data. Any positive print here might help to boost the A/U, E/U and Kiwi etc. Watch you trading calendar as there are a lot of other red flag news items this week!


EUR/USD: Price bounced off the 1.28 support level and is back trading above the weekly support trend line. Price is above the Cloud on the 4hr but has slipped back just below on the daily chart. Price has managed to hold above the 1.30 level to close out the week. There was a TS signal late last week, that I missed, but that has given over over 200 pips so far. This pair is at the mercy of USD sentiment at the moment and being dangled like a ball on a string. Watch the USD and news there to see how to read moves on the E/U. The weekly candle closed as a bullish engulfing candle though and bears keeping mindful of!

E/U monthly

E/U weekly

E/U daily

E/U 4hr


AUD/USD: The Aussie has managed to hold above the 0.90 level so far. Price is still conforming to a descending trading channel on the daily chart. The key chart pattern here though is the Doji candle on the weekly chart. This type of ‘pin bar’ candle can often point to a reversal. Watch the Chinese data here for clues though. Positive data might boost this pair but poor results might see the Aussie break through the 0.90 support level. Price is back below the Cloud on the 4hr now and still below on the daily chart. The RBA want the A/U lower and might intervene to get their way so technical trading is up against those ‘fundamental’ variables:
A/U monthly

A/U weekly: note the pin bar Doji candle! 

A/U daily

A/U 4 hr


EUR/AUD: I had said that this pair would revisit 1.40 before any further ‘long’ moves. Well, that was 430 pips ago! Price has given a new TS signal since then, that I missed, and has broken out of a ‘Bull flag’ pattern on the daily chart. The weekly candle was a bullish engulfing candle. Price is now back above the Cloud on the 4hr chart and is still above on the daily chart which is bullish. Watch the Chinese data though to gauge for impact on the AUD.
E/A monthly

E/A weekly

E/A daily

E/A 4hr

GBP/USD: This pair has had its first bullish week in 4 weeks. Price has broken out of a bullish descending broadening wedge (daily chart) and also gave a TS signal that has given up to 200+ pips. Price is now back well above the 1.50 support level. Price is below the Cloud on the daily chart but has moved up in to the Cloud on the 4hr chart so, sentiment might be turning here. The weekly candle was bullish. 
G/U monthly

G/U weekly

G/U daily

G/U 4hr


S&P500: has had a bull flag breakout on the weekly chart and is holding above the key 1,600 level for now. Is bullish again as it trades above the Cloud and back above the daily support trend line. Watch your trading calendar for times of Ben Bernanke speaking this week though. He can shift stocks!:
S&P500 weekly

S&P500 Ichimoku

 S&P500 daily