The continued rise in US Treasury yields helped keep the recent stock rally in check in spite of up-beat US Retail Sales data. The US$ is a bit stronger but still range-bound for the time being. This current environment has been unhelpful for Gold and this has been one of the better trend line breakout opportunities.
Data; Watch today with AUD Employment data.
DXY daily: still stuck in the daily Cloud BUT watch for any new b/o:
TNX weekly: yields on the rise:
Trend line breakouts:
Gold: not liking the higher yields or stronger US$.
Gold 4hr: a TL b/o for $45.
Gold 15 min: note how this 4hr chart triangle TL b/o could have been used to track this move for up to a 5 R return:
EUR/USD: back below the monthly 200 EMA.
E/U 4hr: a messy b/o for 80 pips:
E/U 15 min: note how the move back below the monthly 200 EMA could have been used as a guide to catch this move lower for around 100 pips!
USD/JPY 4hr: this TL b/o gave up to 100 pips BUT now watch 106 for any new make or break:
GBP/JPY 4hr: this TL b/o gave up to 200 pips BUT now watch 147 for any new make or break:
Other markets:
S&P500 4hr: watch for any new TL b/o:
ASX-200 4hr: watch for any new TL b/o:
AUD/USD 4hr: watch for any new TL b/o; especially with today’s AUD Employment data:
AUD/JPY 4hr: watch the monthly 200 EMA and for any new TL b/o; especially with today’s AUD Employment data:
NZD/USD 4hr: a new b/o so watch for any momentum here:
GBP/USD 4hr: watch for any new TL b/o:
