Friday, April 25, 2014

Trading Week 25th April: more consolidation.

Fri 25th April (7.30 am)
Markets are becoming more jittery with concern about the situation in the Ukraine. This has the potential to trigger a sharp pullback and needs to be kept in mind when trading.

Indices: both the EURX and USDX continue to chop and consolidate sideways:

USDX daily:

USDX daily Cloud:

EURX daily:  moving closer to the apex of the triangle:

EURX daily Cloud:

S&P500: choppy with Ukraine and obvious 'triple top' jitters: 

S&P500 30 min:
S&P500 daily:

Forex: no new TS signals: There isn't much do to FX wise but sit and wait, unless you're into scalping which I'm not. There has been so little movement of late that the daily, and even weekly, chart images are actually more informative than the 4 hr charts! The Cable is worth watching tonight with retail sales data as this could trigger some movement.

E/U: consolidating within daily triangles and 4 hr wedge:

E/U 4 hr:

E/U daily:

E/J daily: triangle bound:

A/U: drifting lower but still within a trading channel BUT the daily chart has a bit of a 'Bull Flag' look to it: 

A/U 4 hr:

A/U daily:

A/J: drifted out of the channel but no new TS signal:

Cable: holding around the 1.68. There is red flag retail sales data tonight that might trigger some movement here: 

G/U 4 hr:

G/U daily: I initially had my 'neck line' of the bullish 'inverse H&S' at the monthly 200 EMA. Looking at the daily chart though now I see that a case could be made for having this 'neck line' at the 1.68 level!

Kiwi weekly: the NZD interest rate hike hasn't helped here too much. This is the weekly chart showing a Doji setting up. 

U/J: still struggling at the monthly 200 EMA:

U/J 4 hr:

U/J daily: this paints a clearer picture of what is happening: consolidation!

AUD/NZD: didn't quite get back to the support level of 1.075:

EUR/AUD: choppy:

GBP/AUD: chopping higher and has tried to form a new TS signal but didn't quite get there:

Silver: the monthly support triangle trend line looks to be holding and price might be trying to head higher: 

Gold: might be edging higher too with increased Ukraine concern. No new TS signal here yet though but I'll be watching for this any move back above the $1,300 level. My weekly chart bullish 'inverse H&S' pattern is still looking valid:

Gold 4 hr:

Gold weekly: 

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