Wednesday, February 19, 2014

Trading Week 17/02/14 (3)

Wed 19th Feb (8.40 pm) Canberra!
I was just lamenting how choppy FX seemed this week and then I noticed this chart. Thus, I'm not too surprised!
EURX daily Ichimoku: if price breaks up through the daily Cloud then both of the index charts will be aligned for Short USD/Long EUR or, what used to be defined as, 'risk on'!

Wed 19th Feb (7.15 pm) Canberra!
S&P500: a 'weak' bullish Tenkan/Kijun cross was noted after Tuesday's close:

Price is at a critical level now:

Wed 19th Feb (7 pm) Canberra!
EUR/AUD: this TS signal was also  not valid due to the signal candle extending outside the Bollinger band. I have 'arrowed' this though too:

Open TS signals:
E/U: has yielded 90 pips: 

Kiwi: has reversed and is currently flat:

Cable: a bit higher ahead of data:

U/J: chopping still under the monthly 200 EMA:

Wed 19th Feb (11.50 am)
TS signals:The E/U and Kiwi are ticking along in profit.

EUR/AUD: this pair is starting to look very interesting. Price has made a bullish break up and out of the descending broadening wedge. The bullish 'inverse H&S' seems to be forming up and a new TS signal is building. Confluence! The monthly 200 EMA is a critical barrier here. I'm watching for any close above this for bullish continuation:

EUR/AUD 4 hr:

EUR/AUD monthly: check out the significance of the monthly 200 EMA here:

Wed 19th Feb (7.20 am)
Indices: the USDX is struggling still and the the EURX has continued on with its triangle breakout:

S&P500: has yet to close but is choppy on mixed data:

The daily chart shows how choppiness would be expected up at this potential 'triple top' zone any way: 

Silver and Gold: these may continue with their bullish journey if the USD continues to weaken. 
Open TS signals:
E/U: keeping on going and has yielded 80 pips: 

Kiwi: hasn't moved much:

E/J: A daily close above the 61.8% fib would be bullish. 

U/J: continuing to struggle at the monthly 2000 EMA:

Cable: loitering near the monthly 200 EMA. Don't underestimate the significance of this major level. There is a lot of GBP data later tonight that may trigger moves here. I mentioned in my w/e write up about the significance of the monthly candle and where it closes with respect to the monthly 200 EMA. I still would not be surprised to see the Cable chop around near this key level until the end of the month:

Aussie: not doing much either and waiting for some direction;

AUD/NZD: still watching this develop:

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