Fri 27th June ( 6 am. HCMC)
USD weakness has continued and this helped to support the A/U, Cable, Kiwi and even the E/U has clawed back some losses.
NB: I will be travelling again today and may not be able to update much over the next few days.
S&P500: Stocks have been choppy with further talk of US interest rate hikes BUT look at the buying into the close!
Silver and Gold: both of these have been consolidating after their big moves from last week. I’ve drawn 4hr trend lines in on both to show recent S/R. Continuing USD weakness will only help these two so I’ll be on the lookout for their next move, whether this is up or down!
Silver: a mini triangle forming above the daily 200 EMA. This has become new support over recent sessions:
Gold: a mini triangle here has formed here too and this is setting up above the daily 200 EMA:
TC Signal: still just the one TC signal for now and that is on the Kiwi. Positive NZD Trade Balance data from this morning is helping to lift this pair and further testing of the 0.88 level seems inevitable:
Other FX: key levels seem to be holding a number of pairs and the Cable looks to be trying to form a new TC signal. There is high impact data for the GBP and EUR later today and the EU summit so watch out for these:
Cable: holding above the 1.7:
E/U: holding up near the daily 200 EMA:
E/J: choppy and doesn’t interest me at the moment:
A/U: holding above the 0.94. The longer this holds above the 0.94 then the more bullish this seems to become!
A/J: still struggling at the 96 level.
U/J: chopping around just under the 4hr chart’s triangle trend line and messy!
GBP/JPY: holding above the 173 level.
EUR/AUD: the daily chart shows this is still channel bound:
GBP/AUD: ditto here but price is near the top of the channel. Watch for any breakout:
AUD/NZD: with the break of the support trend line this pair is now looking bearish. I’m beginning to think that there could be another test of the 1.05 region lows to set up a possible ‘Triple Bottom’! I did not receive a valid TC signal on the 4 hr charts here though: