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  • Channel break leaves gold adrift. One technical indicator suggests the sell-off may be overextended. Get your market update from @nickcawley1 here:https://t.co/zRBQqac8ac https://t.co/ET1dHsqKFg
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USD Breakout Contingent on Retail Sales, Tone at ECB Meeting

USD Breakout Contingent on Retail Sales, Tone at ECB Meeting

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- EURGBP double top in question; GBPAUD holds in triangle.

- EURUSD breakdown obstacles include US retail sales, ECB.- See the April forex seasonality report.

The GBP-crosses have yet to offer clear direction, while several USD-pairs need today's spending data to confirm their recent breakouts.

See the above video for technical considerations in EURUSD, GBPUSD, EURGBP, and GBPAUD.

Read more: Charts to Start the Week as USDOLLAR Hits Fresh Yearly Highs

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

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