Monday, February 17, 2014

Trading Week 17/02/14 (1)

Tue 18th Feb (6.15 am)
Indices: The USDX pulled back a bit overnight in quiet trade but I'm wondering if it is just testing the broken trend line? The EURX is enjoying some gains:

Open TS signals:
E/U: choppy around the 1.37

Cable: pulling back a bit.

Gold and Silver: these were the winners again yesterday. Both paused at key S/R levels after their big moves and seem to be waiting to see where the USD is going to go next. These could pull back a bit, even if there is to be bullish continuation. It would be unreasonable to expect straight line movement here:

Silver 4hr: 
Silver daily:

Gold 4hr:

Gold daily: the bullish inverse H&S move delivered the maximum quota of pips. Price is  now camped at the daily 200 EMA and no doubt watching the USD:

E/J: not drifting too far form major this major intersection:

U/J: holding up under the key monthly 200 EMA:

Kiwi: not going too far either:

A/U daily: a bit undecided too. AUD data out later might trigger some action here:

Mon 17th Feb (3.40 pm)
Not much happening at the moment. Expect a bit of quiet given US holiday. I'm headed back to hospital now with collapsed lung son. Joy!

Mon 17th Feb (1 pm)
Indices Update: The USDX continues to weaken and the EURX is holding up:

Open TS signals:
Cable: This TS signal has now moved up to 420 pips.I would not be surprised to see some choppiness creep in here as this monthly 200 EMA was a major level that was broken:

E/U: I had mentioned I was waiting for a close above the 1.37 level. This has now evolved: 

Silver: this has continued to rally today and the USD weakness is no doubt helping. The daily chart shows how price has pulled back to the 50% fib of the recent bear move:

Gold: The bullish 'inverse H&S' move has completed now with the $70 target reached during this morning's trade. Price stalled at this target and, also, near the key $1,330 level. The weekly chart shows how significant this $1,330 level is:

Other Pairs:
E/J: this is still hovering under a bear trend line, the 61.8% fib, the 140 level and monthly pivot:

A/U: watching the Aussie inverse H&S too:

Kiwi: this has broken up and over a bear trend line BUT this move has not triggered a new TS signal:

U/J: not much to glean here yet. The Nikkei is trading higher and I would expect this pair to get dragged along there too: 

AUD/NZD: still watching this inverse H&S build:

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