Last week: There was little on offer for trend line breakout trades from my radar last week as many instruments consolidate near key S/R levels. There seems to be a lot of market indecision in an environment where economies are opening back up but Covid-19 cases continue rising at an alarming rate in many countries, […]

The US$ enjoyed some Flight to Safety flows this week and has ended with a bullish weekly candle. The Covid-19 situation is still expanding in the US and Apple have flagged the closure again of some US stores. Major resistance from 98 lies just above for the DXY and will be the level to  monitor […]

There were some warning moves noted last week and this theme continued last session with safe-haven flows into the US$ and Yen. No such moves as yet into Gold and the AUD/USD and AUD/JPY are holding up fairly well for now but traders should take note of this shift and exercise caution.

There has been little change across most charts ahead of a day with lots of data. Today brings AUD Employment data and the SNB and BoE rate updates. I can’t help feel though that we might in for a bit of risk-off movement especially as Covid-19 continues to rise in many parts of the USA.

Last week: The week started with some warning signals, alerted in updates here and here, and these proved to be accurate predictors for what was to come. The first was some Yen strength and this was closely followed by similar Flight to Safety moves into the US$ and Gold; with all three preceding the large […]