The US$ is back flexing its muscle and stocks have recovered some of Monday’s losses. I had warned yesterday to watch for a pause with the selling and this is what we got! However, the Covid-19 situation is clearly going to get a lot worse for many countries and, whilst stock markets are forward looking, IMHO, they’ve got a long way to look! These markets seem to defy logic but, short term traders can still benefit and achieve success by watching for momentum-based trend line breakouts.

Data: Coronavirus remains the driver in these markets but watch also for AUD Retail Sales, EUR and CAD CPIs and US Building Permits data.

Earnings:

DXY daily: the index has reached back to the 100 level so watch this for any new make or break:

Trend line breakouts:

Gold 4hr: this b/o triggered and is up $35. $1,550 is the next level to watch. Target remains $1,600.

EUR/USD 4hr: a 150 pips triangle b/o so watch 1.10 for any new make or break:

Oil 4hr: this b/o is at $4.20 but watch $26 S/R, as per my w/e analysis, for any new make or break:

AUD/JPY 4hr: this b/o is at 180 pips but watch 65 S/R for any new make or break:

Other Markets:

ASX-200 4hr: The index is back near the major 11-yr support TL. Watch for any new 4hr chart triangle trend line breakout:

SP500 4hr: Similar story here so watch for any new trend line breakout:

TLT daily: note the move back to the 61.8% fib. Watch 150 for any new make or break:

AUD/USD 4hr: watch 0.60 S/R and for any new trend line breakout:

NZD/USD 4hr: watch for any new trend line breakout:

GBP/USD 4hr: watch 1.21 and for any new trend line breakout:

USD/JPY 4hr: watch for any new trend line breakout:

GPY/JPY 4hr: watch for any new trend line breakout: