Gold was the main groover last session with a great trend line and range breakout move. The US$ is a bit lower again but caution is needed here as momentum continues to decline ahead of Friday’s NFP.

Data: Watch for any impact from the large batch of EUR and GBP PMIs, US ISM Non-Manufacturing PMI and US Trade Balance data.

Earnings: a few big names report today.

DXY 4hr: revised trend lines as momentum is still declining. Recall I had warmed on the w/e that the index might chop /consolidate ahead of Friday’s NFP and this seems to be what is happening:

Trend line breakout:

Gold: so maybe it is the Cup pattern that is evolving???

Gold 4hr: a trend line breakout for up to $40:

Gold 15 min: note how Gold gave a great range breakout trade opportunity in the late European / early US session. This was a relatively low Risk set up with a Stop of $10 and the trade is up near $40 gain for a 4R result. Not bad for those traders who can catch these moves!

Gold 30 min: this time frame worked well too!

Other markets:

EUR/USD 4hr: this is still consolidating above the 13-year trend line for now:

GBP/USD 4hr: this is still consolidating under the weekly 200 EMA ahead of tomorrow’s BoE rate update:

Most other charts are little changed from yesterday’s update.