Is this kind of price action they refer to when they quote the ‘Summer Doldrums’? I’m struggling to find any decent 4hr trend set ups on FX.
USDX daily: trading higher with the key 100 level coming back into focus:
S&P500 daily Cloud: flat and you’d have to think a test of 2,135 is needed though:
Oil: still consolidating and any break and hold below the $45 and daily Cloud would bring the $40 into focus which would help my weekly-chart inverse H&S:
Oil daily Cloud:
Gold: still in a wedge on the 4hr chart under the major 5 year bear trend line:
Silver daily: also consolidating under $20.50 S/R:
E/U 4hr: a triangle break but no TC SHORT as yet:
E/J 4hr: still holding above the major 115 level but, essentially, sideways:
A/U 4hr: still under a three year bear trend line but holding above a support trend line for the time being. Watch for any break of this lower level though:
A/J 4hr: consolidating around the key 80 level:
Kiwi 4hr: pulled back to the 50% fib near 0.70 so watch for any make or break from there.
U/J daily: holding above 105.5 so keep watch of that daily bear trend line!
USD/CAD daily: consolidation around 1.30 still going on here:
EUR/NZD 4hr: a Bull Flag or respect here?
GBP/AUD: I tried a LONG on this off the 60 min chart yesterday thinking it might target 1.77 S/R. Rather, it did a ‘Double Top’ and pulled back 🙁 Overall, this is still in an uptrend for the time being:
G/A 60 min:
GBP/NZD 60 min: this is chopping higher but the recent ‘Lower Low’ might become significant: