I had warned yesterday to watch for any failure of the US$ to break resistance and, also, on the weekend to keep an open mind on the commodity currencies and this proved rather valuable for the last session. Tuesday’s trading displayed a risk-on shift in the lead up to the US Presidential Election with quite a few trend line breakouts and short-term trader opportunities.
Data: Watch today with news from the US Presidential Election, a batch of European PMIs, US ADP NFP and US ISM Services PMI data.
Earnings:
DXY daily: the top of the Cloud proved to be strong resistance BUT watch for any new Cloud breakout; up or down!
Trend line breakouts:
S&P500 4hr: a 55 point TL b/o BUT watch 3,400 for any new make or break:
ASX-200 4hr: a new TL b/o BUT watch 6,100 for any new make or break:
EUR/USD 4hr: a TL b/o for 75 pips so watch for any push to the 1.18 region:
AUD/USD: recall that this TL b/o is a weekly chart Bull Flag pattern so watch to see if there is a weekly candle breakout from this chart pattern:
AUD/USD 4hr: a TL b/o for 35 pips BUT watch 0.72 for any new make or break:
AUD/USD 15 min: this move gave a great short-term trade opportunity after the Asian session for 85 pips and 7 R:
AUD/JPY: watch for any new TL b/o as this would mark a weekly Bull chart Flag pattern and, if so, then watch to see if there is a weekly candle breakout from this chart pattern:
AUD/JPY 4hr: a TL b/o for 35 pips BUT watch 0.72 for any new make or break:
AUD/JPY 15 min: this move gave a great short-term trade opportunity after the Asian session for 80 pips and 6 R:
GBP/USD: this gave a great short-term trade opportunity BUT watch for any new TL b/o:
GBP/USD 4hr: watch for any new TL b/o:
GBP/USD 15 min: this move gave a great short-term trade opportunity after the Asian session for 95 pips and 4.5 R:
NZD/USD: watch for any new TL b/o as this would mark a weekly chart Bull Flag pattern and, if so, then watch to see if there is a weekly candle breakout from this chart pattern:
NZD/USD 4hr: a TL b/o for 70 pips:
NZD/USD 15 min: this move gave a great short-term trade opportunity after the Asian session for 55 pips and 2.5 R:
Other markets:
Gold 4hr: watch $1,900 and the trend lines for any new make or break:
USD/JPY 4hr: watch for any new TL b/o:
GBP/JPY 4hr: watch for any new TL b/o:
