The US$ is higher after the Federal Reserve brought forward its projection for a rate increase. This US$ move triggered sharp responses from Gold and some FX pairs but traders should watch to see how major trend lines fare in the post FOMC wash-up. The DXY is now at a significant weekly resistance level so watch to see if this can be broken.

Data: plenty on today!

DXY: the US$ is higher and has broken out of a recent triangle pattern BUT watch the weekly chart’s bear trend line.

DXY daily: watch the weekly bear TL and top of daily Cloud:

DXY weekly: watch the weekly chart bear TL for the weekly candle close. The weekly Cloud looms large above current price action as well:

Trend line breakouts: most of these b/o were sharp reactions after FOMC and, therefore, not very ‘tradeable‘. I’ve mapped them anyway.

Gold 4hr: note how the first TL breakout, on a rising ADX, was the best clue here!

EUR/USD 4hr: a sharp TL b/o for 100 pips BUT watch 1.20 for any new make or break:

AUD/USD 4hr: a sharp TL b/o for 50 pips BUT watch 0.76 for any new make or break; especially with today’s AUD Employment data.

AUD/JPY 4hr: a TL b/o for 50 pips BUT watch 84 for any new make or break:

NZD/USD 4hr: a sharp TL b/o for 50 pips BUT watch 0.70 for any new make or break, especially with today’s NZD GDP data.

GBP/USD 4hr: a sharp TL b/o for 100 pips BUT watch 1.40 for any new make or break:

USD/JPY 4hr: a sharp TL b/o for 45 pips BUT watch 111 for any new make or break:

Other markets:

S&P500 4hr: lower BUT watch the 15-month support TL for any new make or break:

ASX-200 4hr: watch 7,400 for any new make or break:

GBP/JPY 4hr: not as much of a move here as both the GBP and JPY are weaker BUT watch for any new TL b/o: