Hi Everyone,

Markets are starting to get cracking on all fronts and the majors, in particular, are flying around. Yesterday Donald Trump’s Tax cuts kept on moving forward and the SPX kept on charging. That lead to more upside in the USD after initially falling.

The majors were incredibly active. The Yen has broken to the upside and is now right back in the action. While the Euro has started to make up some ground, despite a strong USD.

Forex Majors

AUD/USD – The AUD is still weak and I expect further declines.

EUR/USD – The Euro has been strong although we have a number of sell signals out at current levels.

USD/JPY – Resistance at 112.00 has been taken out and we are back in the main range.

NZD/USD – The Kiwi has retraced its gains and is back falling.

USD/CAD -The CAD hit 1.29 as we discussed yesterday.

USD/CHF – The Swissy is still following the USD and is evenly poised.

GBP/USD – The pound is super strong thanks to Brexit developments. 1.36 in sight.

US Dollar Index (DXY) – The USD bounced as the tax bill gets closer to reality.

US Dollar Index (DXY) – 240 min Chart.