Friday, March 14, 2014

Trading Week 10/03/14: Fundamentals take over

Fri 14th March (6 am)
There has been a marked shift to 'risk off' during the US session with concern about the apparent slow down in China and rising tensions with the Ukraine situation. This has tipped many pairs from the major levels they were approaching. I am surprised that the Aussie and cable aren't trading too much lower though!

S&P500: this shows the fear that has gripped US markets during the US session:

Indices: The USDX has risen and I'm not sure whether this is out of a fear and a 'flight to safety' or due to renewed thoughts of QE tapering following the release of the most recent strong US data. The fact that Gold is up too makes me suspect the former:


EURX: this has taken a huge hit but is still above major support levels:
Gold: still going

TS signals: 

E/U: the trend line may end up being just too much resistance in the light of geo-political concern. I had stated that I expected choppiness here as price navigates a major resistance zone in the monthly chart triangle trend line and the top of the monthly Ichimoku Cloud:

Kiwi: ditto for the Kiwi:

Silver: this wasn't a valid signal but the $21.50 resistance proved too much:

A/U : down but not too far:

Cable: also down but not too far:

U/J: has suffered a huge blow: 

NB: I am away and not able to update as frequently.

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