Trade Charting

The US$ has kept marching higher and this is having a predictable impact on some Forex pairs and Gold. US stocks are lower and I had warned on the weekend that this chop might continue. I note this quote from CNBC:

“Investors are being whipsawed by conflicting COVID headlines and the growth vs. cyclical debate,” said Adam Crisafulli of Vital Knowledge in a note. “The result is sentiment souring on both growth and cyclical for the moment (which obviously means stocks are for sale broadly).”

Data: Watch today with the SNB rate update and another Fed Chair Powell testimony.

Earnings:

DXY daily: the march higher continues so watch the upper region of the Cloud as this could act as the next level of resistance:

Trend line breakouts:

USD/JPY 4hr: one of the cleanest b/o moves again this week. Watch for any push to and / or past the 61.8% fib:

Gold: watch for any longer-term Inv H&S formation here:

Gold 4hr: this TL b/o is now at $65:

Gold weekly: not updated for today’s move lower BUT watch for any weekly and, then, monthly close below $1,900 as this would support the Inverse H&S with all its associated choppiness:

EUR/USD 4hr: this TL b/o is now at 60 pips BUT watch the 13-yr TL:

I would have expected this multi-year trend lie to be tested but, if it fails, then there is potential for a good move lower before the uptrend is technically broken. The 61.8% fib of this latest swing High is down below 1.13 so….keep an open mind!