Trading Week 24/03/14: TS signals give 310 pips +$15 Gold move.

Wed 26th March (1.50 pm)
No new TS signals yet.

Dean Malone has just published a video on the GBP/AUD. He is also seeing the H&S I have been discussing over recent weeks. He is also seeing the inverse H&S on the A/U too.

Wed 26th March (6.50 am)

Risk appetite improved following some positive data and this is helping some FX pairs to gather some momentum.

The USDX struggled, once again, at the weekly 200 EMA:

USDX:

EURX:

S&P500: choppy but higher:

Price is still bound by the triangle pattern:

The bullish day means the Tenkan/Kijun lines have not fused:

Open TS signals:

EUR/AUD: has now given up to 170 pips. That reversal style 4 am hammer candle is a warning though that this might reverse soon so I'd be locking in profit here. I had thought that the daily 200 EMA, which is near the 61.8% fib of this latest bull move, might be a target but we may not get that far. This target would have also delivered the projected move from the triangle breakout:

GBP/AUD: hasn't given any more than the 120 pips of yesterday and this may stall too if the Cable picks up some steam: 

Gold: this also hasn't given more than the current $15 tally and may be carving out a bit of a reversal 'double bottom' here. Keep an eye on the USDX for any continued weakness there as this would help to boost Gold: 

Other FX:

E/U: still under the key 61.8% fib for now. Price is becoming squeezed up into the apex of a triangle and I'm on the lookout for any breakout action here, either up or down:

E/J: a bit like the E/U. This is tracking along within its triangle and just above the key 61.8% fib level.

A/U daily: the bullish 'inverse H&S' continues to do its thing!

A/J: still bullish too: 

Cable: is starting to look a bit bullish and a new TS signal is trying to form. 

Kiwi: this is also becoming squeezed up into the apex of its triangle pattern and starting to look a bit bullish too. A new TS signal is trying to form up here BUT price is still in the top edge of the 4 hr Ichimoku Cloud and is also outside the Bollinger bands. Keep an eye on the top triangle trend line here as this is from the monthly triangle pattern and should deliver slightly stronger resistance:

U/J: still under the monthly 200 EMA and triangle bound: 

GBP/JPY daily: don't forget to keep an eye on this pair, especially if the Cable picks up: