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I don’t really trade FOREX, but I watch those charts closely. I find it interesting how cleanly the Euro has been trading. Below I’ve put the symbol FXE (which is the ETF for the Euro), and as you can plainly see, there are two sets of parallel ascending channels that have been bounding the price action. It’ll be interesting to see how the Brexit (should the vote actually transpire) will affect this, although it would seem things are tilted more bullish than bearish.
Running late today so I’m using the ES, NQ and TF futures charts that I posted for subscribers at theartofchart.net this morning.
SPX went to the 2050 target that I mentioned yesterday morning and found support there, rallying powerfully enough from there to break the declining resistance trendlines on SPX, ES and NQ, but not TF. Is the retracement over? Maybe, but if so then SPX needs to confirm with a break back over support turned resistance at 2085. The other significant resistance levels to watch today are daily closing resistance at the 5dma (now at 1975), daily middle band (now at 2089), and hourly resistance at the 50 hour MA, also at 2089.
ES Sep 60min chart:
I remain so irked by the “assassination is awesome” rally from yesterday (tinted below) that I’ve ignored Slope for about half a day. Since Jack isn’t here yet, I’ll just toss up a quick chart as a comment cleaner to illustrate that, even with yesterday’s rally, the intraday ES remains in a series of lower highs. I’ll do a better post later once I get my bearings back.
