The ASX-200 is testing new all time Highs but, apart from that, it has been fairly flat in the lead up to today’s US FOMC. Watch to see if this update gets the DXY breaking out from its recent congestion pattern.

The S&P500 and NASDAQ continue their slow grind higher, as does the XJO, and Gold is a bit lower but, apart from that, there hasn’t been a whole lot of change. Most instruments remain in the range-bound patterns they were in for my weekend update.

Last week: It was yet another week with plenty of indecision-style candles and this meant there were no trend line breakout opportunities of any substance. The northern hemisphere summer seems to be impacting current trading volume and sentiment but the wait for this week’s FOMC update has likely helped to keep markets range-bound and indecisive. […]

There has not been much change again in the lead up to today’s ECB meeting and most charts are little changed. Watch to see if the ECB update gets the DXY moving as this could help get the Forex space moving.

Market action has been frustratingly slow of late. The DXY and most trading instruments are hardly changed against a backdrop of little scheduled news. The BoC rate update is today so watch for any impact on the USD/CAD.