The US$ needs to just do it; either make or break 100 but stop just sitting there! I suspect most FX will remain choppy until such time as the US$ either rallies off or falls through this major 100 S/R level but, in the absence of much USD-related data, we might have to wait a bit longer. There have been a few trend line breakout trades from charts posted in my w/e analysis but they haven’t gone too far.
USDX daily: still hovering above 100 but is back below the daily Cloud. Note also the revised daily chart triangle trend lines so watch these for any trend line breakout too.
Trend line breakouts thus far since charts posted on w/e: there hasn’t been much movement but some b/o action was noted on the following:
Gold 4hr: 40 pips:
A/U 4hr: 30 pips. Watch today with the RBA Monetary Policy Meeting Minutes.
GBP/NZD 4hr: 70 pips.
EUR/AUD 4hr: 45 pips.
EUR/NZD 4hr: 40 pips:
Oil 4hr: this gave a small breakout move but note the now revised trend lines.
Other charts: The drill remains the same: watch for any momentum-based trend line breakout.
Kiwi 4hr: Watch today with GDT Price Index data:
Cable 4hr: Watch today with GBP CPI, a BoE Gov Carney speech and with on-going Brexit related news.
Loonie 4hr: Watch today with CAD Retail Sales data:
GBP/AUD 4hr: something has to give here soon I would think!
USD/MXN 4hr: As suspected, this is now at the MAJOR 19 S/R level: