Friday, April 11, 2014

Trading Week: April 11th (pm)

Fri April 11th (6 pm)
Indices: the USDX is moving down even closer to the bottom level of the trading range that has contained price for the last 6 months: 81.50-79. I'll be watching the 79 here for any reaction:


EURX: this looks like it might form up into a triangle breakout but we need to see where this current daily candle closes: 

S&P500: there were steep falls in the previous session and many doomsayers are making much of this BUT price is still above the daily support trend line. I am not making any predictions here other than to say that no clear and decisive prediction can be made just yet! 

Small Cap index Russell 2000:  this is down at daily support but, like with the S&P500, I would need to see a clear break of this support before being convinced of one new direction or another:

Open TS Signals:

E/U: this TS signal has now given 160 pips BUT I'd be wary now as price nears the top of the triangle from the monthly chart. This is a major S/R level for this pair and any continued slide with stocks could spook sentiment here and send it back down, even if only for the short term:

E/U 4 hr:

E/U monthly:

AUD/NZD:  this signal popped up today but isn't doing too well. I'd really be playing this from a simple technical perspective on the 'double bottom' though. That is, either getting in 'long' if price pulls back to the 1.075 or if price breaks up through the 1.09 'neck line':

A/N 4 hr:

A/N daily:

Gold: the signal here has pulled back now but price may bounce up off the trading channel wall again: 

NB: Trading may slow and be more more volatile as volumes decline heading into the shorter Easter week so I'll be wary with any future TS signals.

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