Trade idea menu item for today

I'd mentioned yesterday to watch Gold for any new trade opportunity and that has delivered nicely. So, what is on today's trade idea menu?


Data: Watch today for any impact from CNY Retail & Unemployment data, German Prelim GDP, US Retail Sales and US Prelim UoM Consumer Sentiment data.




DXY 4hr: still hovering near 100 but range-bound on low momentum. Watch to see if today's US Retail Sales data can get the index moving with any chutzpah:


Trend line breakouts:

Gold: remember I'm on the lookout for any test of $1,800.

Gold 4hr: a $10 wedge b/o:


Gold 15 min: this b/o from yesterday is now at 7 R:


Other Markets:

GBP/USD 4hr: note the new look of a bullish-reversal Descending Wedge here on the 4hr chart and the hold back above 1.22 S/R. The Cable has been under pressure for the last two weeks so watch for any potential relief rally, even if this is only short-lived! Today's trade idea item here is to watch for any new momentum breakout and, if this is to the upside, the 1.24 / 1.25 level would be the target:


GBP/JPY 4hr:  Watch for any new momentum breakout and, if to the upside, watch the 132 level:


S&P500 4hr: this had looked like a Bull Flag and the break was to the upside. Watch for any push to the 2,900 / 3,000 level:


ASX-200 4hr: watch for any hold above 5,300 and the 5,450 level above:


EUR/USD 4hr: watch for any new momentum TL b/o:


AUD/USD 4hr: ditto: