The US$ has barely shifted from where it was this time yesterday but there has been movement across some across FX with more trend line breakout trades. The USD/MXN was the best breakout on the day giving a classic trend line breakout along with a new TC signal off the shorter time frame chart for over 1,500 pips. This is proving to be the most reliable trading strategy giving many signals each week. The stock indices are worth keeping an eye on too as they shape up within consolidation patterns.
USDX daily: still below the 102 and daily Cloud resistance zones:
Trend line breakout signals:
Gold: this has given up to 120 pips now and note how the 15 min chart helped stay in much of this trade:
Gold 4hr: $1,265 seems the level to negotiate now:
Gold 15 min:
USD/MXN: This pair has made a smaller triangle breakout but, also, a bullish break out from the three-month descending trading channel. The breakout move gave up to 1,500 pips before reversing but watch now for any make or break back at the key 19 level; this may prove to be just another failed test of this major level but, keep an open mind:
USD/MXN 4hr: this was the chart from yesterday’s post showing the triangle within the descending trading channel:
USD/MXN 4hr: this is the chart from today showing the breakout from both of these patterns:
USD/MXN 15 min: note how the first TC signal after the triangle trend line break was a boon here for up to 1,800 pips!
USD/TRY: This new breakout move gave up to 420 pips:
USD/TRY 4hr: this was the chart from yesterday’s post:
USD/TRY 4hr: this is the chart from today:
USD/TRY 15 min: note how the first TC signal after the trend line break was great help here too for up to 300 pips of this breakout move!
USD/CAD 4hr: gave 80 pips before stalling at the upper trend line:
EUR/USD 4hr: I mentioned in my w/e analysis to watch for any support from the 61.8% fib and check it out! I now suggest watching for any break above the recent bear trend line to warn about any potential inflection point shift
E/J daily: watching for any trend line support here:
A/U daily: watching to see if this broken trend line holds price and, if so, then watch for follow through to Fib support:
A/J daily: ditto here:
GBP/USD 4hr: still consolidating. Watch with GBP Services PMI later today:
Kiwi 4hr: consolidating here still too:
GBP/JPY 4hr: seems that way again here too:
GBP/AUD 4hr: here too:
GBP/NZD 4hr: and here too!
EUR/AUD 4hr: bounce still in progress:
EUR/NZD 4hr: a trend line breakout but no momentum:
USD/CNH 4hr: still consolidating:
Silver 4hr: marking time after the major trend line breakout:
ASX-200 4hr: a breakout starting?
DJIA 4hr: watch trend lines for any momentum-based breakout:
S&P500 4hr: ditto here:
NASDAQ-100 4hr: here too:
FTSE-100 4hr: here too:
DAX 4hr: here too: