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Chart Signals: USD crash ignites rallies in gold, US indices and resource dollars

Chart Signals: USD crash ignites rallies in gold, US indices and resource dollars

The FOMC decision has sparked a number of big spike moves, particularly in resource markets. Gold has been the big beneficiary along with resource dollars CAD, AUD and NZD. US indices have broken out from recent consolidation ranges while charges upward with ranges by WTI crude oil and the Australia 200 also indicate a clear shift to more aggressive trading stances.

Asia Pacific Indices

Australia 200 is staging a strong bounce up off the bottom of its 5,065 to 5,225 trading channel rallying up through 5,145 a Fibonacci level and advancing on 5,160. Higher lows in the RSI indicate upward momentum still increasing.

Japan 225 has drifted back under 17,000 after retesting 17,150 a Fibonacci level as lower resistance. Current support appears near 16,890 followed by 16,840 and the 50-day average near 16,700. RSI levelling off suggests upward momentum stalling.

Hong Kong 50 remains in an uptrend with 20,208 a Fibonacci level emerging as new higher support and the index trading near 20,330 with next resistance near 20,425 then 20,555 a Fibonacci level. RSI confirms upward momentum intact.

India 50 held 76,410 support to keep its uptrend going and has bounced back up above 7,500 to challenge 7,515 Fibonacci resistance with its next upside test possible near 7,590.

North American and European Indices

US 30 is breaking out today, clearing 17,280 to signal the start of a new advance as it rallies up off of 17,195 a Fibonacci level. Overbought RSI suggests a retest possible should emerging resistance near 17,380 hold with its next test after that near the 17,500 round number.

US NDAQ 100 has rallied up off of 4,345 a Fibonacci level and recent breakout point toward 4,400 with next potential resistance it its 20-day average near 4,415 then 4,500 a round number and Fibonacci test. RSI still rising indicates upward momentum increasing.

US SPX 500 is climbing up off of 2,015 a Fibonacci level and its 200-day average, advancing on 2,030 as accumulation resumes even though RSI remains overbought. Next resistance on trend possible near 2,040 then 2,060.

Germany 30 remains under accumulation as shown by the continuing trend of higher lows and support above 9,930 where it recently broke out of a head and shoulders base. Currently trading near 10,000 next potential resistance on trend appears near 10,180.

UK 100 is holding steady near 6,175 trading between 6,135 and 6,190. RSI confirms it remains in a sideways range between 6,000 to 6,230 below its 200-day average near 6,275.


Gold held $1,228 Fibonacci support and has soared on the Fed news blasting through $1,236 and soaring on toward $1,260. Support rises toward $1,250 with next resistance in place near $1.285 its recent high followed by the $1,300 round number.

Crude Oil WTI successfully retested $35.00 yesterday and has bounced back with a vengeance first rallying toward $36.50 then after a quick coffee break taking a run at $38.00 and Fibonacci resistance near $38.25. Next upside test on a breakout near $40.00 while support rises toward $37.20.


US Dollar Index keeps steadily climbing as it bounces up off of 96.00 support testing 97.00 with next potential resistance in the 97.40 to 97.80 area.

NZDUSD has soared up from $0.6580 toward $0.6720 in what looks like an aggressive charge higher but so far remains contained within its $0.6560 to $0.6770 trading range with next upside tests near $0.6800 then $0.6870. RSI indicates momentum still mainly sideways.

AUDUSD successfully retested $0.7390 its recent breakout point as new support and has exploded upward, rallying up from $0.7420 through $0.7500 and on toward $0.7560 with next potential resistance near $0.7600, a key support-resistance point.

USDCNH is testing the top of a 6.4795 to 6.5285 Fibonacci trading channel along with 50 on the RSI where breakouts would call off the current downtrend  but failures would confirm them. On a breakout a previous high and 50-day average near 6.5555 could be tested with initial support near 6.5000

USDJPY has fallen sharply from resistance at a Fibonacci cluster near 113.90 down to test uptrend support near 112.60. RSI failing at 50 suggests broader downtrend intact with next potential support near 112.00 ten the double bottom near 111.00.

EURJPY is holding steady near 126.20 within an emerging trading range between the 125.00 round number and the 50-day average near 127.50.

CADJPY is climbing within a 84.55 to 86.20 trading range between two Fibonacci levels with next resistance near 86.91. RSI holding steady above 50 indicates momentum neutral to upward.

USDSGD is driving down today, plunging from near $1.3840 through $1.3710 and on toward $1.3670 with next potential support closer to $1.3600 signalling the start of a new downleg on trend.

USDCAD has turned decisively downward plunging from the top through the bottom of its previous $1.3200 to $1.3400 trading range, and falling toward $1.3140, signalling the start of a new downleg that could challenge $1.3000 a round number and measured move.

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