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Messy low momentum moves: for the most

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: