Wednesday, April 23, 2014

Trading Week 23rd April: pm update

Wed 23rd April (8.40 pm)
GBP/AUD: The AUD weakness today has triggered movement here. The GBP/AUD printed a bullish engulfing candle at the end of last week. Seems it was 'in the know'! Trend lines might be worth watching here as Friday's GBP data looms:

GBP/AUD 4hr: no valid TS signal though:

GBP/AUD daily: a new trading channel forming:

GBP/AUD weekly: repetitive?

AUD/NZD: we didn't ever get a daily candle close above the 1.09 'neck line'. Price has tumbled today with the weaker AUD data.

A/N daily:

A/N 4 hr: Watch for a retrace to test the 1.075 level but 4hr fibs suggest that an even lower test to 1.068 could evolve:

AUD/JPY: suffered a pull back too. I've adjusted the trend lines a bit:

Aussie stocks: Check out these bullish candles. The highest close since June 2008! We need to see where they close by the end of the week though, ie, after tomorrow. A hold above the 5480 level would be very bullish:

XJO: ASX 200:

XAO: All Ordinaries:

Wed 23rd April (7.15 pm)
Indices: I noted this morning how both the EURX and USDX were approaching their daily Ichimoku Clouds. These have posed enough resistance to reject the two indices:

USDX daily Cloud:
EURX daily Cloud:

USDX 4 hr: price has again been rejected at the 4 hr 200 EMA and monthly pivot:

EURX 4 hr: price continues to chop within the triangle pattern:

  • No new TS signals yet as the choppiness continues. 
  • I am heading off early tomorrow morning and will update when I can:

E/U: this is trying to form a new TS signal on the 4hr chart but has not succeeded yet:

E/J: still choppy and triangle bound: 

A/U: the weaker than expected AUD data has sent the A/U tumbling BUT only down to the support of the bottom trend line of the trading channel:

A/U 4 hr:

A/U daily: Interesting how the 50% fib pull back of the recent bull move brings price back to the key 0.905 'neck line' level! This may be a target if bearish follow through continues:

Cable: this might be waiting to see how Friday's GBP retail sales data prints before making its next move!

U/J: no real movement here:

Kiwi: there is important interest rate data here early tomorrow morning (7 am). I wouldn't expect too much until after that print:

GBP/JPY: I've converted this to a triangle now but the upper trend line has been respected again:

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