S&P 500 below the green 4hr ma - first time in 3 weeks. U/Cad quietly creeping up, surprisingly euro, aussie and swiss are still at their present levels
S&P500 on the 2hr, with indicator cross below 75ma and challenging 1400point and possibly 1393 the 8hr 75ma
Aussie 10 min - failed to find support with the prev bottom this am - below the indicators and well below the 75ma
Here is the NZDUSD pair again… The price is approaching the trendline now, also there is a significant horizontal level of support AND the hourly 200 sma is converging in on the area… Nice little trifecta of confluent supporting factors. The horizontal level of support is also a round number at .8100, even better.
We have RBA’s governor speaking in about an hour which could move the price of this pair… I would be watching price closely if it hits this area…
I suspect it likely that the price will hit the 100 sma (red) following RBA’s speech, then bounce up for a bit before testing our support area maybe sometime tomorrow or early next week.
Ideally for a long, I would like to see nothing too negative from the RBA speech today… And then for, price too hit the area sometime tomorrow morning after a reaction to the US core durable goods order release. If price doesn’t hit until some time mid next week I will not be looking for a long, but rather wait and see if a trend break develops.
Hey Banker - nice chart. I have been thinking about these currencies positions - the Aussie flirting with its low, Euro at top of daily trend, Swiss carving a rounded bottom and like you said the kiwi looking at its support again. So using one of the left of field methods drew up the S&P put some trendlines, your averages, plus a time series and hull on the weekly - alittle clunky - however appears S&P is in its downtrend in the channel - so maybe one could say that U/Cad has a stronger possibility of maintaining its uptrend till S&P completes this leg. U/Cad chart below
U/Cad 10 min chart, looking to maintain its support at the 75ma - however indicators have crossed, but not a very strong price reaction to it so far
Aussie 10 min still unable to get above the 75 with the indicator cross over - targeting 1.0410 - if it can cross below the indicators
Swiss 10 min chart. Nice rounding bottom play. crossed indicators yesterday above the 75ma, needs to crawl above the ,9616 mark to target .9640
S&P 500 on the 10 min crossed indicators, far below the 4hr ma - continues to target lowtrend at 1357
U/Cad on the 10 min chart - indicators flat, however price has been consolidating at these levels for past 24hrs. channel continues to offer support - looking to see if the toptrendline holds
Aussie on the 10 min chart - remains below the indicators with them crossed, 75ma continues to be an area of resist - if holds, next target 1.0370
Here’s the NZDUSD chart that I posted from yesterday… Look how price reacted exactly where I thought it would… US durables came in way positive today… So this puts a damper on those expecting more QE… And put downward pressure on risk and commodity currencies, I would be cautious about a long with that data… The perfect scenario for a long would have been if the support was hit, then durable orders came in at or below forecasted… but still there is a lot of supporting technicals for a long entry at this moment.
correction the news service I used made a typo in the core durable goods headline… It actually came in lower then expected. This would make the fundamentals now confluent with the technical support*
Hey you - that is a tradeinterceptor chart - are you coming to the darkside - lol. If your still holding that short on Aussie, you did great. About those FOMC minutes - because the recovery is not ontrack to their expectations or slower then expected is why - I am guessing - the S&P turned(along with the China data)
Ha! I use trade interceptor on my phone… MT4 for computer… So I have no allegiance to either.
The Chinese PMI really caused havoc with the bulls of the AuDUSD pair… Looks like the core durable orders will give them pain again before the weekend close.
I closed AUD trade at 1.0445 btw
I took this nzd trade long at .8095 sometime a few hours a ago… Had set a limit order before I went to bed. It hit that and bounced +15 pips before durable goods order came out, and then headed back down. My SL is .8080 and tp .8125
1:2 risk reward. If my SL is hit I will consider the trendline to be broken and will be looking for a 30 min bearish engulfing candle to short late today or early next week.