Market action has been pretty much sideways to start the week following on from the similar action of last week. I am reading that the concern over increased Covid-induced US lock-downs is moderating enthusiasm about the Vaccine roll-out. Don’t forget that there are four Central Bank updates this week, with FOMC as the major one here, so price action could remain choppy until this event.

 

Data: there is a lot of second tier data released today:

 

 

Earnings:

 

DXY daily: more sideways action and still within the descending wedge so watch for any momentum-based trend line breakout:

 

Markets:

ASX-200 4hr: chopped higher so watch 6,700 resistance for any new make or break:

 

S&P500 4hr: choppy under 3,700:

 

Gold: chopping sideways and the 30 min chart reveals the absence of any decent momentum here.

Gold 4hr: revised trend lines here so watch for any momentum-based trend line breakout:

 

Gold 30 min: chopped lower but with no decent momentum:

 

EUR/USD 4hr: continues to chop sideways so watch for any momentum-based trend line breakout:

 

AUD/USD 4hr: continues to chop sideways so watch for any momentum-based trend line breakout:

 

AUD/JPY 4hr: continues to chop sideways so watch for any momentum-based trend line breakout:

 

NZD/USD 4hr: continues to chop sideways around 0.71 so watch for any momentum-based trend line breakout:

 

GBP/USD 4hr: popped higher on Brexit trade talk optimism but this then faded:

 

USD/JPY 4hr: a quick drop but then back to 104:

 

GBP/JPY 4hr: this also popped higher on Brexit trade talk optimism: