Tuesday, April 8, 2014

Trading Week: 8th April (am)

Tue 8th April (8.40 am)
Indices: the USD has continued to slip back down from the resistance of the weekly 200 EMA and the EURX has bounced up off the major support trend line:


S&P500: this has had another negative session BUT the index is still trading above the daily support trend line and I don't have any new momentum signal here. The trading version of 'Henny Penny...the sky is falling in' is doing the rounds again BUT I don't see how anyone can be making a major directional call here just yet:

Daily chart:

Ichimoku chart: I'm surprised to see the bullish cross alignment of Tenkan above Kijun still holding. They are horizontal though indicating no trend: 

TS Signals: these have all closed off now. There are no new TS signals and I suspect the uncertainty across stock markets is feeding into the uncertainty, and hence lack of momentum, with Forex. There is AUD Business Confidence data out later today and BoJ interest rate news and these may trigger some movement on AUD and JPY pairs:

A/U: closed off for -20 but is holding above the support of the daily 200 EMA for now. Watch out for AUD data later today:

Gold: closed off down $8: 

EUR/AUD: closed after giving 140 pips: 

GBP/AUD: also closed off after giving 140 pips: 

Other pairs:
E/U: bouncing within the trading channel and trying to form a new bullish TS signal:

E/J: trading within the daily triangle:
E/J 4 hr: 

E/J daily:

Cable: the inverse H&S still looks intact:

Kiwi: looking bullish again as it trades up towards the major monthly triangle trend line .....again! 
Kiwi 4 hr:

Kiwi monthly: 

U/J lower BUT no TS signal:

AUD/NZD: still above the support of the 1.075. I still have my order to LONG in at this level: 
A/N 4 hr:
A/N daily:  

NB: I am travelling home today and will update this afternoon.

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