The US$ weakened after FOMC and this triggered a bit of movement across numerous instruments so I have drafted charts with revised trend lines to monitor. Today brings the BoE rate update so take care if trading GBP pairs.

NB: I will be away with family on a 2 week holiday from today, Thursday 18th, until Tuesday 30th March. This is holiday that had been postponed due to Covid restrictions. Weekday updates will be brief and few during this period but I will endeavour to publish a full weekend update; on both weekends.

Data:

DXY: weaker after the FOMC update so watch for any continuation lower:

DXY daily: watch for any developing weakness:

DXY 4hr:price action is now below the Cloud:

Gold 4hr: up above $1,750 so watch for any push to the 61.8% fib, near $1,770:

S&P500 4hr: watch 4,000 for any new make or break; BUT note the declining momentum:

EUR/USD 4hr: watch 1.20 and for any new trend line breakout BUT note how momentum is still very low:

AUD/USD 4hr: watch for any new trend line breakout:

AUD/JPY 4hr: watch 85 and for any new trend line breakout:

NZD/USD 4hr: watch for any new trend line breakout:

GBP/USD 4hr: watch 1.40 and for any new momentum-based trend line breakout; especially with today’s BoE rate update:

USD/JPY 4hr: watch 109 and for any new trend line breakout;

GBP/JPY 4hr: watch 152 for any new breakout; especially with today’s BoE rate update: