Tuesday, March 11, 2014

Trading Week 10/03/14: Whole bunch of nothing!

Wed 12th March (7 am)
AUD/NZD: this has gone on to give over 60 pips.

I will update after the 8 am candle close as there are some other signals trying to form up.

Tue 11th March (8.45 pm)
No new TS signals.

AUD/NZD: this is the only open TS signal that has been received thus far:

Gold: this is close to forming a new TS signal and is closing in on the $1,350 level. A break and hold above this level would seem to be quite bullish:

It feels like we might be about to get a bit of 'risk off'. The divergence on the S&P500 had warned me of this possibility so I won't be too surprised.

Tue 11th March (6 pm)
AUD/NZD: this is the only open TS signal and is in profit BUT I'd have stop to entry if trading it as it is near a possible 'double bottom' region and could bounce:

Tue 11th March (4.30 pm)
AUD/NZD: this signal is heading the right way BUT very slowly.

Cable: I've had a TS 'short' signal trying to form up here BUT it has taken too many candles to develop and so is not valid. 

E/U: this is close to forming one too but I'll need the 8 pm candle to confirm this:

Tue 11th March (10 am)
The lack of much news and data over the last 24 hrs has resulted in little movement across stocks and FX. Traders need to watch out for AUD and BoJ data out later today. The USDX is slightly higher and the EURX a little more than that:

USDX: I continue to be a bit surprised by the lack of strength here given the current QE taper regime. I've read some trading commentary from an economist that suggests tapering of US QE will be 'dollar negative'! This runs counter to the common perception of the impact of QE tapering on the USD. I do wonder though if the perception of an improved US economy and market conditions might lead to money flowing into other asset classes?  


S&P500: choppy!

Silver: trading sideways above the $20.50 support:

Gold: trading sideways above the daily 200 EMA support:

TS signal:
AUD/NZD: this came off my 4 am candle BUT I had warned to be wary given there is AUD data out shortly. 

Others: many other FX pairs are simply chopping sideways:

E/U: choppy as it trades above the support of the 61.8% fib but below the major monthly chart triangle trend line:

E/J: holding above the 143 support:

A/U: back below the 0.905 following weak Chinese data BUT hasn't fallen too far: 


Cable: fell back below the monthly 200 EMA. Profit taking being reported here: 

Kiwi: choppy as it trades just below a major monthly chart trend line:

EUR/AUD: not straying too far from the monthly 200 EMA:

GBP/AUD: choppy here as well.

There is little momentum here still and, thus, no trend signals of any note. More waiting seems to be in store. 

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