The risk-off shift with US stocks has continued into the new week. There has finally been a bullish breakout for the US$ and the Yen caught some flight to safety movement as well. Gold remains range-bound for now though but the GBP is weaker on renewed Brexit concern.
Data: Watch today with CNY CPI and PPI and the BoC rate update.
Earnings:
DXY: the US$ has finally made a bullish breakout from the bullish-reversal Descending Wedge. You should not be too surprised as I I have been warning about this potential for some time based off this technical pattern. Watch, now, for any test of the recently broken 10-yr trend line.
DXY daily: a new bullish breakout from the descending wedge:
DXY daily + Fibs: watch the 61.8% fib if price recovers above the 10-yr TL:
DXY 4hr: note the bullish momentum:
Currency Strength Indicator 4hr: the USD and Yen moved higher with the classic-style risk-off shift:
Trend line breakouts:
S&P500: the 3,400 level was broken last session.
SPX 4hr: there is a lot of scope for pullback here after this lengthy rally:
SPX 30 min: a 60 point TL b/o thus far: after 3,400 gave way
GBP/USD: Renewed Brexit woes weighing here; as well as the stronger US$:
G/U 4hr: the break of 1.32 giving over 200 pips thus far:
G/U 15 min: those who can trade the US session would have had a clear-cut setup for a short term trade here for 120 pips and 3 R.
NZD/USD: this has been heavy with the risk-off shift.
Kiwi 4hr: the break of 0.67 has given up to 80 pips thus far:
Kiwi 15 min: those who can trade the US session would have had a clear-cut setup for a short term trade here too for 60 pips and 3 R. Note the test and rejection of 0.67 S/R:
GBP/JPY: this got the triple whammy of Yen strength, GBP weakness with Brexit concern and a technical rejection of a multi-year trend line.
GBP/JPY 4hr: the TL and 140 b/o has given up to 250 pips:
GBP/JPY 15 min: those who can trade the US session would have had a clear-cut setup for a short term trade here too for up to 200 pips and 5 R.
AUD/JPY 4hr: the rejection of the 7-yr trend line and sell-off here coming along with the risk-off shift for up to 85 pips:
Other markets:
ASX-200 4hr: watch 5,900 and the revised trend lines for any new b/o:
NASDAQ daily: there is a slot of scope for pullback here after the recent lengthy rally. Watch for any test of the 10,000 whole-number level:
Gold 4hr: watch revised trend lines for any new b/o:
EUR/USD 4hr: heavy BUT watch revised trend lines for any new b/o:
AUS/USD 4hr: also heavy with the risk-off shift BUT watch revised trend lines and 0.72 for any new b/o:
USD/JPY 4hr: watch for any new TL b/o:
