There hasn’t been too much stock or FX movement but that isn’t surprising as the markets wait for FOMC and BoJ interest rate decisions and this may remain the situation until both of these events are out of the way! The US$ is a bit lower following weaker than expected New Home Sales data but it’s really just marking time under resistance ahead of FOMC. Apple slipped though ahead of its Tuesday (AMC) earnings result and I’m sure the Federal Reserve will be watching this result just as closely as the other bits of US economic data in the lead up to Wednesday’s FOMC.
USDX weekly: in a bit of a holding pattern under trend line resistance:
EURX weekly: holding above the key 96 level and trend line support:
S&P500 30 min: not much movement here. Apple report their Q4 earnings after the markets close on Tuesday and that will be a closely watched stock market event:
Gold 4hr: still consolidating in a wedge under the$1,200 level ahead of FOMC:
Copper: some use Copper as a measure of broad-based market health but, not surprisingly, the monthly chart shows Copper in a consolidation-style triangle pattern. I can also make out a bullish-reversal descending wedge within this triangle but it still has some way to go before any bullish breakout:
Forex: there is GBP prelim GDP, US Core durable Goods, CB Consumer Confidence and Apple earnings released later today.
E/U 4hr: pulling back a bit but still below the 1.11 level and broken weekly trend line:
E/J 4hr: has pulled back to test the 134 area but this, and the broken triangle trend line, will remain the ‘line in the sand’ region to watch with FOMC and BoJ:
A/U: still in a wedge on the 4hr and a possible Double Bottom on the daily:
Cable daily: keep an eye on the triangle trend lines:
Kiwi 4hr: holding up for now despite weaker than expected Trade Balance data. Remember there is NZD Interest Rates are updated just after FOMC! We might not see too much happen here until then!
U/J daily: resting up before the busy end of week with FOMC on Wednesday and BoJ on Friday. The 124 level remains in focus as per my w/e notes:
USD/CAD 4hr: not doing much either ahead of FOMC:
EUR/NZD weekly: it seems I’m not the only one watching this major support zone near the 50% fib and weekly 200 EMA!
GBP/NZD 4hr: nor here:
EUR/AUD 4hr: or here: