Thursday, April 24, 2014

Trading Week 24th April: chop fest continues

Thursday 24th April (4.30 pm)
Kiwi: this didn't end up triggering any new TS signal. No new signals anywhere...patience requred:

Risk events: ECB Presidnet Draghi speaks in a few hours and this could spark some momentum. Also, events in the Ukraine are looking more uncertain and this could also evolve to trigger a sharp move.

It is a public holiday here tomorrow and I am away so updates will be less frequent.

Thursday 24th April (12 noon)
Kiwi:  I am a bit surprised that the Kiwi did not trigger any new TS signal after the large move post NZD rate hike. Price was outside the Bollinger band for the 11 am candle close which would have voided any signal but it didn't form so isn't an issue. It may form up with next candle at 3 pm though:

Thursday 24th April (7.30 am)
Stocks took a breather overnight after rallying for the last 5 days or so. The indices are still chopping sideways:

USDX: still struggling to get over the 4hr 200 EMA and monthly pivot:

EURX: still triangle bound: 

Indices daily Ichimoku Clouds:  both the EURX and USDX struggled at their daily Ichimoku Cloud:

USDX daily Cloud:

EURX daily Cloud: 

Forex: no new 4hr chart momentum signals yet. My TS system is keeping me out of these choppy markets and that's a good thing!

E/U: still coiling within a triangle pattern and trading below the key 61.8% fib:

E/J daily: also still chopping within a triangle: 

A/U: range bound in a descending trading channel:

A/J: ditto:

Cable: back below the 1.68. There is GBP retail sales data o Friday and that may get this moving:

GBP/JPY: this is also one to watch after GBP retail sales data. Price pulled back from the triangle trend line: 

Kiwi: a bit higher after NZD interest rate hike news:

U/J: still triangle bound and also struggling at the monthly 200 EMA :

EUR/AUD: choppy:

GBP/AUD daily: this may be one that is better to trade from daily charts on any channel breakout:

AUD/NZD: a pull back to the 1.075 level seems reasonable here but a further move down to the 61.8% fib level at the 1.068 would not be out of the ordinary though either:

Silver: still holding above the support of the monthly chart's triangle trend line:

Gold: might be carving out a new 'double bottom'? 

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