Risk-on was the theme to start the week despite rising Covid-19 cases in many countries, the USA especially. I continue to be amazed at the disconnect between Wall Street and Main Street but I’m reading the markets are looking forward to the second half of the year and recovery post-Covid. This is why I continue to stress the importance of trading what you see and not what you think!

Data: Watch today with a batch of EUR and US PMIs.

Earnings:

DXY daily: no Flight To Safety today! An almost bearish Engulfing candle for the day.

Trend line breakouts:

Gold 4hr: this TL b/o has now given $24 BUT watch the recent High for any new make or break:

NZD/USD 4hr: a new TL b/o for 50 pips BUT watch 0.65 for any new make or break:

EUR/USD 4hr: a new TL b/o BUT watch 1.13 for any new make or break:

S&P500 4hr: a new TL b/o so watch for any continuation:

ASX-200 4hr: a new TL b/o BUT no supporting momentum just yet so watch 6,000 and for any continuation:

AUD/USD 4hr: a new TL b/o so watch for any continuation:

AUD/JPY 4hr: a new TL b/o so watch for any continuation:

Other markets:

GBP/USD 4hr: watch for any new TL b/o:

USD/JPY 4hr: watch for any new TL b/o: