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 watch for new TL breakouts.
Data: not much high impact news for today:
Earnings:
DXY daily: a bit lower so watch for any new TL b/o:
Trend line breakouts:
Gold: This breakout above a 10-month Bull Flag trend line is significant but this breakout will need to hold for the week, at least, to support the longer-term Bull Flag scenario.
Gold 4hr: a new TL b/o above $1,850 for $16 so watch for any push to $1,900.
Gold 30 Min: the best moves here come after the Asian session:
GBP/USD 4hr: a new TL b/o for 50 pips:
GBP/JPY 4hr: a new TL b/o:
Other markets:
S&P500 4hr: not much momentum and have revised trend lines so watch for any new TL b/o:
ASX-200 4hr: not much momentum here either and have revised trend lines so watch for any new TL b/o:
EUR/USD 4hr: watch for any new TL b/o:
AUD/USD 4hr: not much momentum and have revised trend lines so watch for any new TL b/o:
AUD/JPY 4hr: watch for any new TL b/o:
NZD/USD 4hr: not much momentum here as well and have revised trend lines so watch for any new TL b/o:
USD/JPY 4hr: watch for any new TL b/o:
