The EUR/USD traded higher last session and was helped more by the US GDP miss than any commentary from the ECB update. The weekly chart’s bullish-reversal descending wedge continues to shape up as a result. The NASDAQ and S&P500 closed at new highs, following the GDP result, but Friday could be a bit rocky for […]

There are two central bank updates today but the ECB will be the one more keenly watched. The EUR/USD remains near 1.16 and this is the level to watch for any new make or break. There are also some huge US names reporting on Thursday with Apple and Amazon reporting after market close.

The S&P500 is now up knocking at the key 4,600 level as a big week of US tech earnings continues. Recall that the 4,600 is the whole-number level ahead of the 200% Fibonacci extension of the Covid swing Low move and there will be lots of people monitoring this for any new make or break. […]

US stocks are edging higher ahead of a big week of tech earnings. The US$ is a bit higher to start the week which has pressured the EUR/USD but not much else. The charts are little changed but keep watch for momentum based trend line breakouts.

All eyes will be on the major US index of the S&P500 as it negotiates a previous all time high region. Traders will be watching for any hesitation that may lead to a bearish Double Top. Momentum has declined across many trading instruments so watch for any new momentum-based trend line breakouts.