1

Pause keeps us guessing.

The US$ rally paused last session giving some FX pairs a reprieve but stocks closed higher for no obvious reason. This to and fro with risk sentiment means traders need to remain nimble. Momentum is low on many instruments, reflecting the broader indecision, so watch for any new momentum-based trend line breakouts.

 

Data: there is no high impact data today but watch for Covid and Election related news.

 

Earnings:

 

DXY daily: The daily Cloud is acting as resistance so watch for any breakout from this region:

 

Trend lien breakouts:

Gold 4hr: this TL b/o has given $65 but watch for any continued support from this recent Low region:

 

EUR/USD 4hr: this TL b/o has given 100 pips but watch for any continued support from this multi-year TL:

 

AUD/USD 4hr: this TL b/o has given 240 pips, from the weekend chart's TL, but watch for any support from the 0.70 level:

 

NZD/USD 4hr: this TL b/o has given 180 pips but watch for any continued support from this multi-year TL:

 

USD/JPY 4hr: this TL b/o has give 100 pips but watch for any continued resistance from the 61.8% fib:

 

Other markets:

S&P500 4hr: still a potential Bull Flag here so caution is needed:

 

ASX-200 4hr: watch for any trend line breakout:

 

GBP/USD 4hr: watch for any trend line breakout:

 

GBP/JPY 4hr: watch for any trend line breakout:

USD/CAD daily: watch for any Cloud breakout: