The US$ is lower which has helped to support Gold and some FX pairs. There are mixed messages though with stocks looking forward, in a ‘better days to come’ kind of mode, and trading higher BUT Oil is trading lower on demand worry. The daily chart of the currency strength indicator is worth consideration as […]

US stocks received a bounce on the back of upbeat sentiment following Sen Bernie Sanders withdrawal from the 2020 Presidential race but, apart from that, there hasn’t been a lot of momentum conviction with any new moves. I had mentioned in my weekend analysis to be prepared for some quiet ahead of the Easter break […]

US stocks opened strongly for the week on hope the Covid-19 curve might be flattening. The US$ remains range-bound but a bit of Yen weakness helped to trigger moves on some Yen pairs.

Most chart patterns are little changed with the exception of the S&P500. US stocks slipped due to Covid-19-related economy concern. Like I mentioned yesterday, traders might need to wait for NFP before we see any significant market movement.

Gold has dipped and this triggered a reasonable trend line breakout but most other charts are displaying holding patterns. Markets might chop sideways until after this week’s NFP so caution is needed until that data release.