Monday saw some profit taking across stock markets as the US$ index continues to hold above 91.75 support and Gold holds above $1,770. Watch for any potential sideways activity until Friday’s US jobs data report.

Last week: US Thanksgiving week will be one to remember this year. In spite of the surging US caseload of Covid-19 and the incumbent US President pushing back against his election defeat, the four US stock major indices of the S&P500, DJIA, NASDAQ and Russell-2000 are all printing large bullish monthly candles, with one day […]

The DXY closed lower for the week and the EURX closed higher, however, both indices have potentially bullish patterns on their 4hr charts. Next week brings US NFP so watch to see which way the jobs data gets the DXY moving.

The DJIA paused under the 30,000 level ahead of Thanksgiving and there hasn’t been much movement elsewhere either. Weekly US jobs data was disappointing and Covid cases continue to surge across the USA giving traders plenty of reason to pause.

Risk-on sentiment continued last session with the DJIA closing above the whole-number and psychological 30,000 for the first time. The US$ looks like it could be starting to weaken so keep watch of the next support level for any new make or break.