Currencies

I am not a currency trader but some of you might be and due to correlations in the markets think worthwhile to check up on these at least once a week.

DXY below all pivots and looks like we should see that 1HS1 level at least. 

DXY also below Q2P and AprP with no immediate support. 

Here are all long term and medium term levels on one chart.

EURUSD above long term levels and may see 1HR1.

EURUSD did tag Q1R1 on the last day of the quarter.

USDJPY breaking YS2! This is a big deal. Bearish below that level 110.62. 

Since announcement of negative rates USDJPY has been sharply lower; below all pivots from 2/3/16.

AUDUSD top on 1HR1 but still above YP. 

GBPUSD W under YP / HP from the start. Second break of YS1 in last 3 weeks is bearish. Trying to hold 1HS2 now. So from here I'd say a break below 1.4007 should mean down to the lows or YS2 1.371.

Q2 moving sharply lower so far, already from Q2P to 1HS1 and break of AprP and YS1 in the process.

Lastly the digital currency wish I knew about earlier. I thought bitcoin might get a run this year but alas right idea wrong vehicle! ETHUSD "Ethereum." 1 day break of AprP and recovery, note March low was exactly on the pivot. 

Currencies

There have been fantastic moves in every other asset class but currencies have been chopping around (I don't follow soft commodities). One of the the worst parts of any trading strategy is chop. It is rare but can happen with pivots and stock indexes too; if a level that usually works just doesn't for 3 tries in a row call it day and come back in next quarter. 

That said there were some levels on the 3/17-18 turn.

DXY W dropped below both long term pivots but rebounding before reaching a long term support level. 

There's the rebound from Q1S1 so at least there was a level on the turn. 

All levels; reclaiming YP would be bullish, but hesitant to take any currency trades with so many moves failing with much better movement in other asset classes.

EUR W chart also looked like rally on but dropping back to test the YP.

No level reached on the recent high before a fade qualifies as chop.

USDJPY W, now that is a nice turn bang on YS2!

Time limits currency check to once a week, but that was a decent spec buy setup as of 3/21, with clear hold of YS2 and lift from 1HS2.

AUDUSD W, did not quite reach 1HR1.

At least rally reached Q1R2 so cannot complain too much. Better entry above 3 pivots on 3/3 chance for gain.

GBPUSD maybe returning to status of "below all pivots." 

Currencies

Weekly report if time permits on the major crosses. On all charts, I am showing yearly and half-year pivots (long term) on weekly chart and then daily charts with quarterly and monthly (medium term). 

DXY reclaimed YP & HP, bullish. 

Testing QP here, to watch. Back above would be bullish and possible long (above 3 / 4 pivots, and 4th expires end of month) but rejection puts it back into congestion, no trade. 

Similarly, EURUSD breaking back under YP and HP, bearish if maintains. 

But sitting right on the QP here so no position edge until we see reaction from that. 

USDJPY got smashed from the YP, broke the YS1/ 1HS1 combo, and back to 1HS2 / YS2 area. So major support 110-111.

You can see the QP 1 day recovery and subsequent rejection, back under all pivots as of 2/3. Down to Q1S3 here.

AUDUSD not moving that much, but below YP & HP.

QP rejection in larger downtrend usually good setup as short. 

GBPUSD has been in the news recently. From Pivots it has been clearly weaker since Q4 2015 under YP and HP despite trying a few times to reclaim. 

2/16 would have worked as a short, back under all pivots with clear break of FebP. 

Lastly BTCUSD. I was hoping for real run with lift above major pivots first time above both since 2013!

The high was FebR1, but let's see what happens.