The market were given a soothing hand from some intervention to nip the level of speculative trading that contributed to Wednesday’s sell-off. Added to that was the fact that the US$ stalled at resistance and this helped to peg some of the Forex moves that looked to be getting underway. The failure of the US$ index to break out from the wedge and the bunching evident on the Currency Strength Indicator suggest that Forex might remain frustratingly choppy and more suited to shorter-time frame trading for the time being.

Data: lots of second tier data to see out the week:

Earnings:

Currency Strength Indicator (daily); bunching continues BUT watch for any new breakout:

DXY daily: the upper wedge trend line AND daily Cloud are proving to be decent resistance. Note how the +DMI has slipped back below 20.

Markets:

S&P500 4hr: bounced back but watch 3,750 for any new make or break:

ASX-200 4hr: also bounced back after testing 6,600 (some fairly decent Support) but watch 6,700 for any new make or break:

Gold 4hr: watch for any TL b/o:

EUR/USD 4hr: revised trend lines so watch for any new b/o:

AUD/USD 4hr: bounced off 0.76 but watch 0.77 for any new b/o. Also, watch for any sideways Bull Flag potential:

AUD/JPY 4hr: bounced off the 4hr 200 EMA but watch 80 for any new b/o. Also, watch for any sideways Bull Flag potential:

NZD/USD 4hr: bounced off 0.71 but watch 0.72 for any new b/o. Also, watch for any sideways Bull Flag potential:

GBP/USD 4hr: watch 1.37 for any new make or break.

USD/JPY 4hr: has moved 40 pips:

GBP/JPY 4hr: watch 143 for any new make or break.