A snapshot view of yesterday’s New York - London session with technical notes.
Key Events:
AUD: Quiet week for AUD so the fate of Aussie will lie in the hands of China and US data
CAD: Also quiet for CAD pairs followng last week's positive inflation
CHF: Trade Balance, KOF Economic Barometer
CNY: HSBC Flash PMI
EUR: French and German Flash Manufacturing PMI; German Preliminery CPI and Business Climate
GBP: BoE Gov Carney speaks; Current Account
JPY: BoJ Kuroda speaks
EUR: Revision iun GDP, FED
NZD: Trade Balance
Forex
DXY: 3rd week sideways trading since 81.05 top; D1 bias is bearish below 80.50 to target 80
AUD/USD: Rikshaw Man Doji closed below 0.940 resistance; Bias is neutral between 0.920 and 0.940 on W1; COTs net long but reduced longs
EUR/USD: Bullish piercing line closed above 1.350 support and 50 week eMA to warn of near-term strength
GBP/USD: Spinning Top closed the week below 2009 highs to warn of hesitency to break higher - potential for a pulback before trend resumes
USD/CAD: Broke below key support at 1.08; Near-term bias remains bearish below 1.081 and targeting 1.07
USD/CHF: Dark Cloud Cover below 0.90 suggests pending weakness
USD/JPY: W1 Bias remains neutral between 100.80 to 103; D1 also sideways trading so intraday trading is preferred until trend establishes
NZD/USD: Closed the week below 0.870 support but gapped up over the weekend; D1 bias is bullish above 0.870
Commodities:
Gold: Hanging Man warns of weakness on D1; However bias remains bullish above $1300 with support at $1305
Silver: Spinning Top on D1 warns of pending weakness but bullish above $20 with support at $20.40
WTI: Rikshaw Man Doji on W1 warns of sideways trading however support above $105 favours a resumption of gains
Brent: Closed at 9-month highs with bullish bias; Support at $112, $112.30 $113.40