Another very quiet night in trading with stocks a mixed bag, commodities also mixed but oil and copper both up smalls, bonds were flat and currencies sideways although the Greenback did reverse somewhat against most of its peers. Nothing to talk about to be honest.
However, the Aussie Tennis Open heated up though and was great to see the underdog Wawrinka beat the great Djokovic. Two years in a row these two have battled five setters in high quality tennis but Stan had Novak’s number this year after bleeding his heart out last year. Understandably Wawrinka was ebullient, hell I would be too, I’d be dancing all over the court with that win. Well done to him and I hope he goes right through.
DATA HIGHLIGHTS TODAY – AU CPI. Japan Monetary Policy Statement. UK Unemployment & Monetary Votes. Canadian Monetary Policy Statement.
AUDUSD – Was a HHHL but pretty much a nothing bar as it looks to be closing at balanced for the day. Can’t really take too much from this. Resistance: 8890/9167/9300/9428 Support: 8720/8550/8300
EURUSD – A HHHL by one pip and also a low test bar, still, it is in the middle of nowhere for me and not giving any sign to trade, yet. Resistance: 13733/13830/14065 Support: 13488/13420/13266
GBPUSD – The Poms are winning the day, unlike their cricket team, with a strong day and HHHL we are now ready to trade this. They do have their minutes coming out tonight along with unemployment data so it might be an idea to wait until after that news. Resistance: 16474/16610/16740 Support: 16300/15950/15830
NZDUSD – Ho Hum. Yes a swing low of the 50ema but it is also in the middle of the range it has been stuck in since October. Resistance: 8475/8535/8607 Support: 8190/8131/8100
USDCAD – And another test of 1.10. Still waiting for another day of selling, but tonight is their central bank so tomorrow may be the day.Resistance: 10985/11060/11290 Support: 10560/10420/10195
USDJPY – A seller bar but HHHL in a downtrend phase 2. Confused? Definitely, its lost for the moment. Resistance: 105.57/108.35/110.50 Support: 103.34/101.65/100.00
GOLD – Fell away from the resistance but is still in the reverse head and shoulder formation, outside of 1225 and 1265 is a break of that formation. Resistance: 1265/1,307/1,350 Support: 1,225/1,180/1,040
BITCOIN (from Mt.Gox exchange) – Inching towards resistance with a high of 971 and last of 959.