Thursday, February 27, 2014

Trading Week 24/02/14 (4)

Thur 27th Feb (6.30 am)
Indices: This old song came back to mind when I checked out the indices just now. The USDX is back up at the weekly 200 EMA and the EURX is back at the monthly 200 EMA. Creatures of habbit!


S&P500: currently down. I'm still waiting for a clear 'make or break' of this 'triple top':

Gold and Silver: neither of these have welcomed the latest batch of USD strength.  Adding fib levels to their most recent bull moves shows that a bit of a pull back is within reason though even if there is to be any bullish continuation:

Silver: A pull back to the key $20.50 looks possible:

Gold: a pull back to the $1,280 region is near a bit of support:

FX pairs: Interestingly, with this overnight shift to 'risk off', I don't have any new TS signals, not even on the A/U. They may yet build but they haven't as yet!

E/U: has fallen below the 1.37 and is now finding some support at the 1.365 S/R level. A short signal trying to build but hasn't as yet:

E/J: not straying too far from the 61.8% fib: 

A/U:  triangle holding price for now:

A/J: triangle break BUT no TS signal:

Cable: not straying too far from the monthly 200 EMA: 

U/J: ditto

Kiwi: choppy:

EUR/AUD:  choppy:

AUD/NZD daily: inverse H&S still brewing:

GBP/AUD: a close above the monthly pivot would void this technical pattern BUT we haven't had that yet: 

EUR/USD 30 min chart: the bearish action overnight put the E/U back into the 4hr Ichimoku Cloud. Periods of Cloud bound action are often best traded off 30 min charts during the US session. The E/U could have delivered up to 50 pips for those of you who can trade this time frame:

I'm out at hospital for much of today and will update on my return.

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