US$: stuck under 96.50

The US$ remains stuck under the 96.50 S/R level and the lack of activity here continues to drive action, or lack thereof, with FX. Silver and Gold are both consolidating in triangle patterns though so any trend line breakout with momentum might be worth watching for on these two.

USDX daily: the 96.50 was the neck line of the previous ‘Double Top’. Any reversal back down here may help shape up a bigger H&S:

USDXdaily

USDX 4hr: a bit hard to argue against the importance of the 96.50:

USDX4

Silver 4hr: triangle bound after pulling back to fib support from the previous swing high move. Watch for any trend line breakout that evolves with momentum:

Silver4hr

Gold 4hr: ditto:

Gold4hr

FX: no new signals whilst pairs chop sideways. There are two items of high impact US data today with Core Durable Goods and Consumer Confidence with a few other second tier items. However, potential sting might come more from the one or both of the two Fed speeches so watch for impact from them too:

E/U 4hr:

EU4

E/J 4hr:

EJ4

A/U 4hr: trend lines might help spot a breakout move here:

AU4

A/J 4hr: ditto:

AJ4

Cable: hanging in there just under the 1.55 level:

GU4

Kiwi 4hr: the divergence noted on the w/e was a valid warning:

Kiwi4

U/J 4hr: here too:

UJ4

GBP/AUD: hugging that major monthly chart triangle trend line:

GA4

GBP/NZD: trying to hold out above 2.10 until the month closes this w/e:

GN4hr

EUR/NZD: similar here but the 1.50 is in focus:

EN4hr

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