There have been messy and low momentum moves for the most part across many trading instruments with the exception of that on the USD/JPY. The US$ index remains range-bound and the FX Indices remain divergent so I’m not all that surprised. Patience is needed until there are better conditions for catching momentum-based trend line breakout trades.
Data: no high impact data today:
Earnings:
DXY daily: declining momentum still evident here so watch for any shift:
Trend line breakouts:
USD/JPY 4hr: the major 105 has given way here so watch for any push to the recent Low:
Other markets:
S&P500 4hr: choppy near 3,400 so watch revised trend lines for any new momentum breakout:
ASX-200 4hr: choppy near 5,900 so watch revised trend lines for any new momentum breakout:
Gold 4hr: watch trend lines for any new momentum breakout:
NASDAQ daily: choppy but still in a possible Flag so watch revised trend lines for any new momentum breakout:
EUR/USD 4hr: choppy under 1.19 so watch revised trend lines for any new momentum breakout:
AUD/USD 4hr: choppy near 0.73 so watch revised trend lines for any new momentum breakout:
GBP/USD 4hr: choppy under 1.30 so watch revised trend lines for any new momentum breakout:
NZD/USD 4hr: choppy near weekly 200 EMA so watch revised trend lines for any new momentum breakout:
GBP/JPY 4hr: very choppy near 136 BUT watch revised trend lines for any new momentum breakout:
USD/CAD daily: choppy but still in a potential descending wedge so watch revised trend lines for any new momentum breakout: