The US stock rally paused last session as traders wait for news about the US Covid relief package and as US Covid cases continue to surge. The US$ remains supported, Gold dipped on Covid Vaccine optimism and the Cable got a bit of a boost due to some post-Brexit trade talk optimism. All in all, it was a bit of a mixed bag.

Data: watch today with the ECB rate update and US CPI data.

Earnings:

DXY daily:  another indecision daily candle, albeit bullish coloured. Watch to see how the ECB rate impact impacts here, if at all:

Trend line breakouts:

GBP/USD 4hr: choppy as post-Brexit trade talks continue but a b/o for 100 pips before reversing.

GBP/JPY 4hr: also choppy as post-Brexit trade talks continue but a b/o for 80 pips before reversing.

AUD/JPY 4hr: a 50 pip b/o before reversing:

Other markets:

S&P500 4hr: back below 3,700:

ASX-200 4hr: watch for any Bull Flag activity here:

EUR/USD 4hr: watch the support trend line here; especially with today’s ECB rate update:

AUD/USD 4hr: bucking the trend here a bit as higher despite the stronger US$ BUT keep watch of 0.745 and for any TL b/o:

NZD/USD 4hr: watch for any Bull Flag and for any TL b/o:

USD/JPY 4hr: holding above 104: