Thin trade made for choppy conditions in the lead up to the Christmas holiday break and weekend updates about revised Covid lock-downs contributed to this choppiness as well. The GBP pairs have been rather volatile on the back of ongoing post-Brexit trade talks and revised Covid lock-down news so keep monitoring for updates here. Many trend line breakouts triggered but some would have been hard to catch due to the gap at market open unless traders were able to work off shorter time frames.

Data:

VIX daily: note the spike action on the VIX today: volatility is often higher during this trading:

DXY daily: still holding within the descending wedge so watch trend lines for any new b/o:

Trend line breakouts:

S&P500 4hr: a sharp b/o move for up to 100 points but watch 3,700 for any new make or break:

ASX-200 4hr: a b/o move for up to 90 points but watch 6,600 for any new make or break:

Gold 4hr: messy but still under $1,900:

EUR/USD 4hr: a TL b/o move for up to 45 pips but holding above a support TL for now:

AUD/USD 4hr: a b/o move for up to 80 pips but back above a support TL so watch 0.76 for any new make or break:

AUD/JPY 4hr: a b/o move for up to 70 pips but watch the support TL for any new make or break:

NZD/USD 4hr: a b/o move for up to 100 pips but watch 0.71 for any new make or break:

Note how the 21 EMA was of some help to short-term traders here on the Kiwi:

GBP/USD 4hr: a volatile day here with a gap lower and b/o move for up to 200 pips but watch 1.35 and the 14-yr TL region for any new make or break:

Note how the 21 EMA was of some help to short-term traders here on the Cable as well:

GBP/JPY 4hr: volatile here too with a gap lower and b/o move for up to 200 pips but watch 139 and the 40-yr TL region for any new make or break:

Other markets:

USD/JPY 4hr: messy but watch revised trend lines for any new b/o:

USD/CAD daily: this revised descending wedge is holding for now: