The S&P500 tested the 14-month trend line again last session but recovered somewhat following the release of the Fed Minutes. The potential for tapering may have been what helped the US$ to bounce off a recent S/R level. Many instruments continue to hover near key S/R levels but the AUD/JPY is looking vulnerable to some […]

It was a mixed bag of action last session with the US$ and US stocks lower and commodity currencies a bit higher. Key S/R levels remain in focus for many instruments though so watch these, and trend lines, for any new breakout.

Gold has been the best mover to start the week and has made a 4hr chart breakout above a 10-month Bull Flag trend line. The GBP pairs have edged higher too and I suspect this is due to optimism with the easing of Covid restrictions. Apart from that, there isn’t much momentum around so keep […]

The 12-month support trend line kicked in for the S&P500 last session but will be in focus again today with Friday’s trade as US Retail Sales data is released. The US$ was little changed and, thus, so were most FX pairs.

US stocks had a choppy session but FX didn’t buy in to any of this. FX charts are little changed from yesterday so watch to see if today’s US CPI data gets things moving.