Thursday, March 13, 2014

Trading Week: 10/03/14: NZD the one to watch today!

Thurs 13th March (6.15 am): NZD in focus with cash rate announced.

Indices: the USDX remains weak and the EURX has strengthened since my last update. I'm still finding this surprising given the current market jitters and Ukraine concern.

S&P500: stocks have chopped sideways and this index looks like it will print an indecision style 'spinning top' candle, albeit a bearish coloured one:

Gold: I tweeted yesterday to watch Gold for any push above the S/R level of $1,350. Price looks set to close above this level now and I consider this to be a bullish move and would be looking for continuation here. This would be especially so if the USD remains weak. I'd keep a close eye on the dollar and Ukraine situation. Sentiment shift on those issues, either way, could trigger a response move with Gold:

TS Signal: 
AUD/NZD:  this went on to deliver up to 100 pips. It has paused now as the A/U found support at the 0.89 level (see A/U chart below). I'd be careful trading any NZD pairs today as the cash rate is to be announced shortly.

Other FX:

Kiwi: This is the pair to watch today. The NZD cash rate is announced in 30 minutes and I would expect this to trigger movement here. The Kiwi is sitting just under a major monthly chart trend line that has kept a lid on price lately. The rate news could change all that though!

4 hr:

A/U: fond support of the 0.89 level:
A/U 4 hr:

A/U daily: the bullish 'inverse H&S' is still in play here: 

E/U: holding above the major 61.8% fib and now up VERY close to a major triangle break out region:
E/U 4hr:

E/U monthly: monthly trend line in focus here:

E/J: I'm watching for any bullish move back above the key 61.8% fib here: 

Cable: still not doing too much: 

U/J: watching the monthly 200 EMA here to see if it can offer support at all: 

NB: I am away at the moment and not updating as frequently.

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