Stocks have rallied on renewed US stimulus hope but Forex remains pretty range-bound and I suspect this will remain the case until the DXY breaks out of its range-bound pattern.
Data: there isn’t much high impact news but watch today with the US Vice President’s Debate, US stimulus news and health updates about the US President.
Earnings:
DXY daily: Note the absence of momentum here! The index remains range-bound near the recently broken multi-year support trend line so watch for any momentum-based trend line breakout. IMHO: I don’t think we will see any decent trending across Forex pairs until there is a decisive breakout on this index:
Trend line breakouts:
ASX-200 4hr: this breakout has been choppy but note how the ADX supported this move. Watch for any push to the recent High.
USD/JPY 4hr: a small b/o thus far so watch 106 for any new make or break:
Other markets:
S&P500 4hr: watch for any new trend line breakout:
Gold 4hr: still struggling at $1,900 but watch for any new trend line breakout:
EUR/USD 4hr: watch for any new trend line breakout:
AUD/USD 4hr: watch for any new trend line breakout:
AUD/JPY 4hr: watch for any new trend line breakout:
NZD/USD 4hr: a bit weaker so watch for any developing trend line breakout:
GBP/USD 4hr: watch for any new trend line breakout:
GBP/JPY 4hr: watch for any new trend line breakout:
