Wednesday, April 16, 2014

Trading Week: April 16th: All eyes on China today!

Wed 16th April ( 9.40 am)
Kiwi: the Kiwi had actually triggered a new TS signal overnight too but this was also not valid as price was above the 4hr Ichimoku Cloud. The weaker NZD data this morning though has triggered some more bearish movement and price looks like it will close below the 4hr Cloud. A close below the 4hr Cloud would support this new TS signal BUT Chinese data at noon is the 'elephant in the room' so I'd still be waiting until after that:

Kiwi 4 hr:
Kiwi 4 hr Cloud:

Wed 16th April ( 7.15 am)
US stocks enjoyed further gains following some positive US data and company earnings. The USDX did not feel this love though and stalled at the monthly pivot. The EURX has bounced, yet again, off the major support of the monthly triangle pattern trend line:


S&P500: There are still many people calling this a top BUT the daily support trend line has not been broken. I want to see the daily trend line broken AND price trading below the Ichimoku Cloud before I would be making any new directional short trades here:

S&P500 daily:

S&P500 Ichimoku: Price is still trading within the Cloud so, although not looking great, there is no clear new trend just yet:

Gold and Silver: these have recovered a bit with the slow down in the USD:

Gold: I noted last night how a TS signal on Gold was not valid due to Bollinger bands requirements. Price went on to give over $20 on this signal though! This dip has not undermined the building of the daily chart's bullish 'inverse H&S' just yet:

Gold 4 hr:
Gold daily:

Silver: price broke down from the trading channel and gave a 50 cent move before finding support from the bottom trend line of the monthly chart's triangle pattern:

Silver 4 hr:
Silver daily:

Forex: there is data out of China today that has the potential to impact market sentiment and, thus, trigger movement across a number of currency pairs. I am waiting for the release of this data before trading.

A/U: this had triggered a new signal overnight but was not supported by Ichimoku and so is ignored:

A/U 4 hr:
A/U 4hr Cloud

GBP/AUD: the same applies here:

G/A 4hr:

G/A 4 hr Cloud:

A/J: this triggered a new signal off my 3 am candle that is valid BUT I'm waiting until after the Chinese data.

E/U: choppy:

E/J: non committal still as it trades within the daily triangle: 

Cable: still holding above the major support of the monthly 200 EMA: 

Kiwi: also holding above the support of the monthly chart triangle trend line:

U/J: As for the E/J, no commitment here as it trades within the daily triangle: 

EUR/AUD: choppy: 

AUD/NZD: choppy as well and bouncing between the 1.075 and 1.09 levels. There is NZD data out soon as well that may impact here:

A/N 4 hr: 

A/N daily: the 'double bottom' is still playing out here for now though:

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