All eyes will be on the major US index of the S&P500 as it negotiates a previous all time high region. Traders will be watching for any hesitation that may lead to a bearish Double Top. Momentum has declined across many trading instruments so watch for any new momentum-based trend line breakouts.

Data:

Earnings: a relatively quiet end to the week:

DXY weekly: still stuck in the Cloud and under 95:

Trend line breakouts:

S&P500 4hr: the weekly candle close will be important here to see where it closes with respect to the previous all time High:

AUD/USD 4hr: consolidating near 0.75:

AUD/JPY 4hr: consolidating near 85:

NZD/USD 4hr: consolidating near 0.72:

GBP/JPY 4hr: consolidating near 157:

Other markets:

ASX-200 4hr: consolidating near 7,400:

Gold 4hr: watch for any new TL b/o:

EUR/USD 4hr: watch for any new TL b/o:

GBP/USD 4hr: watch 1.38 and for any new TL b/o:

USD/JPY 4hr: watch for any new TL b/o: