US$ a bit lower but so too Yen ahead of BoJ.

The US$ seems to have taken a bit of a break after FOMC and the weaker Advance GDP print would not have helped the US$ bull case. TheYen is lower ahead of today’s BoJ announcement, Gold is back at major support and US stocks have paused their rally although end of month profit taking could be the reason there more so than any sentiment shift. The AUD remains heavy ahead of next week’s RBA update and the GBP & EUR enjoyed some upbeat momentum.

USDX weekly: a failure to breakout this week, more likely now after the weaker than expected US Advance GDP, could set up for another month of choppy consolidation-style action:


USDX daily: OR….is price just testing the broken TL before bullish continuation? If so, today’s price action will be important:


EURX weekly: a bit of a reprieve here:


Gold 4hr: back down at major $1,145 support:


TC Signals: these have continued to deliver pips:

A/U 4hr: up to 120 now:


A/J 4hr: hasn’t done too much and is still sitting at fib support. Watch for any impact from today’s BoJ update:


GBP/AUD: this has finally got going and looks set to make a daily channel breakout too. A bit frustrating for me as the 30 min chart shows how this got going well after the Asian session. In fact, a decent 100 pip 30 min trade was there during the late Europe/US session 🙁

G/A 30 min:


G/A 4hr:


G/A daily: the Bull Flag option may be evolving here:


Kiwi 4hr: has recovered after giving 100 pips but is struggling at the 0.67 level for now:


Other Forex: the BoJ is the major piece of High Impact data today although there is CAD GDP and US Employment Cost Index data too:

EUR/USD: this has enjoyed a reprieve with the weaker US$. Note how any 61.8% fib pull back would bring price near the 4hr 200 EMA, monthly pivot and key 1.12 area. This 1.12 area is best viewed on the monthly chart:

E/U 4hr:


E/U weekly:


E/U monthly:


E/J 4hr: this has bounced back up after rejecting the 132 level. Note how any 61.8% fib pull back here would bring price past the key 124 level but up to the 4hr 200 EMA amd previously broken triangle trend line:


Cable: this looks to have bounced up off the bottom triangle trend line. keep an eye now on the 1.55 level:

G/U daily:


G/U 4hr:


U/J daily: the US$ was weaker but so too was the Yen and so this pair is higher ahead of today’s BoJ:


GBP/JPY: this has bounced up off the 184 level….to the pip!

G/J daily:


G/J 4hr:


GBP/NZD 4hr: this remains range-bound and under the 2.30 level for now:


USD/CAD 4hr: watch this with CAD GDP later today