E/J: The daily candle actually closed above the 143...I see that as significant!
Thurs 3rd April (6 am)
Indices: The USD is trading higher and seems to be anticipating some relief with NFP. The EURX is trading a bit lower:
Gold: Interestingly, even with the USD trading higher, Gold is also ticking upwards.
S&P500: is chopping sideways and slightly higher.
The daily S&P500 chart shows how the triangle breakout has held BUT this now poses another 'double top' scenario that traders will be watching, especially with NFP on Friday. I would expect some choppiness on the index as it gets closer to this 'double top' region:
The other S&P500 chart to watch is the daily Ichimoku chart. The Tenkan/Kijun lines seem to have fused again and traders need to watch to see if any new bullish cross evolves. Any such bullish cross would be deemed a 'strong' signal as this would evolve above bullish Cloud:
Open TS Signals:
E/J: this TS signal looks to have closed off now and price has slipped back below the 143 level. I'm watching to see if this pull back is a reversal or just a pause that turns into a new 'Bull Flag'.
E/J 4 hr:
E/J 4 hr revised: I have drawn in new trend lines to help gauge whether this is a reversal or pull back. trend lines are very arbitrary though so this is very rough 'Science'!
Kiwi: has move on to give 60 pips. The 0.85 might be a reasonable first target here as this is near the 4hr 200 EMA:
AUD/NZD: this hasn't moved much since I noted the signal.
E/U: trading lower but no new TS signal so I'm suspicious about whether this will keep falling:
GBP/JPY: this looks like it might close back below the S/R levels of the inverse H&S 'neck line' and the monthly 200 EMA. I had mentioned yesterday that this was a daily chart pattern and that traders needed to see a daily close above these levels to be at all confident of any possible bullish continuation. This has not evolved as yet.
G/J 4 hr:
G/J 4 hr revised: Like with the E/J, it is not clear just yet whether this is a reversal or just a pause that might also develop into a 'Bull Flag'. I have redrawn trend lines here to help gauge this one too:
A/U: I'm also surprised to see the Aussie holding up so well above the daily 200 EMA given the moves with the USD:
A/J: ticking higher:
Cable: lower but no new TS signal:
NB: I am travelling how from interstate today. Updates will be few and brief. I actually think we will see little more happen now until after NFP anyway though.