 Thanks all for coming, for joining. Going to get through the risk warning screen here, we're seeing this first page. And there we are. Not as much in the way of economic data this week, but still a big one on Wednesday. It's going to be the FOMC, the Federal Reserve Minutes. And I think that's going to be a big driver of what happened this week. Last week we saw some pretty key economic data highlighted in my note here in the insights. You can see that, if I can just find the note here, that retail sales, producer price inflation, industrial production, consumer sentiment, all missed expectations last week in US economic data. So some of the things I was mentioning in that note there is that, we've had that missed data, how is the Fed looking at things? Now these minutes are about two weeks old, and since then, including that data I just mentioned, we've seen more weakening data. But the big worry here is that the Fed looks still too towards tightening in the next few meetings, despite this apparent economic growth slowdown in the US. Now that's the bigger theme in markets, and that's what's been pushing currencies around, and that to a large extent has been explaining what's been happening in bond and stock markets in Europe. We've seen a strengthening of the euro, and we can have a look at that chart right here. Partly because of better economic data in Europe, but just partly because of this weakening in US data, and that divergence between the expansion in the US and the contraction in Europe is now very much tightened for the time being. Europe, as it stands right now, looks to have grown at a faster pace than the US and the UK for the first quarter. So this whole divergence trade of the Fed looking to tighten rates before the ECB, even though it still remains the case, it's just less so the case right now than that gap between when the two banks moves arguably as narrowed. It's entirely possible that the Fed reserve won't tighten interest rates this year, if the current data trends persist. Now that being said, we've had quite a good run up in the euro here, and I think that we're running into a distinct kind of risk area because this is the daily chart and you can see we've had many more updates outpacing. There's just a small number of down days that we've had. We've run into this 114-50 barrier here, which is what capital these gains. I think there's still a possibility of a push-up to 115, but I think that's going to be a distinct trouble area. If you look on the weekly chart, it's a bit more apparent why. Here's that high that I was highlighting, which had a bunch of daily highs, but that one problem, weekly high, and then this is this kind of peak that we had back at the start of February. That's where the price kind of had its last leg that broke down, and that's where it's corrected back to. My feeling is that perhaps we're just a bit overdone in the euro at this point, and there are some slight signs not really occurring yet, but this depends on your own tolerance for risk and how you approach the trend in the market. Some may feel that it's worth still trading in the direction of this daily trend, but just knowledgeable of the fact that we're running into this kind of headwind type area, and aware of the fact that the trade may not run into new highs, and so perhaps a bit more keen to cut losses quicker than you might otherwise be. That's one approach. Another approach is, well, let's just get through this difficult area, which to me is arguably capped around 15-30, probably right at the top of it, but 115 is the key level. Wait for us to push through there, then feel a bit more confident about the trend resuming. It depends on how you typically approach things, but I think the trend is not necessarily over, but it's reaching a bit of a headwind here, and so perhaps how much legs this rally has in the euro, but not just the euro, we flip over to the pound as well. How much legs these rallies may rest on the Fed minutes this week, which get released late Wednesday around 7 p.m. in the U.K. But again, if we're just looking at this pound here, it's obviously had a fantastic run. It's obviously held back somewhat by concerns over the election. We had an election result that points to a bit more certainty in terms of the U.K. economy, at least that's the perception anyway, and so that's coupled with this weakness in the U.S. and some comparatively strong economic data that we saw last week. The employment picture looks solid still, and we saw a pickup in wages, so some reasons to be strong in the pound and obviously that difference between the pound, the difference between the U.K. economy and the U.S. economy is very negligible at this point in terms of which one is outpacing the other, but still the dollar is the world reserve currency, so the pound is subject to that, and some of the other divergences out there, namely between Europe and Japan, which is obviously a lot more stark. But again, if we look at this weekly chart here, a really solid run from the pound, and we're coming just shy of this 50% retracement mark, which, you know, it's a zone. We know that typically we don't bang straight on it. That's right around 159, we've hit 158, which corresponds with this peak here of this, you know, pretty much the exact peak of what I deemed to be this sort of supply zone where we had a peak and then we broke lower through those lows. And keep in mind we are below the 55-week moving average, so it's not to say we're going to go down and necessarily make new lows, but we're definitely in an area that risks a correction. Now, a couple of areas of potential support would be this 155.50, which is this peak from, I think it's actually the 26th of Feb on the daily chart, and then down here, which you can see more clearly on the daily chart, which is basically that sort of tweezer top that we broke through could be a support on the way down, which is at 155, just this beast. So this to me has some merit, this declining wedge pattern that we saw. So on one side it could suggest that we've got a bit more upside eventually, but it could all suggest that maybe even the price corrects beneath is high and makes a steeper correction down towards maybe 153 around where this declining trend line is for sort of like a break, a retest and a move again. I'm probably not going to cover Dolly Yen, I mean, I'll bring up the chart, but there's not a lot going on here. We're in this very tight range. For the moment it's actually pretty great trading for buying and selling the top of this range, but obviously the range has to break at some point, and that's when you're going to face losing trade if you're buying and selling the bottom top of the range, but for those who've been doing that, fantastic. All the trends, really not too good. It's all part of this broader range of 116 to 122 as well. Side of the currency front. I normally cover equities first here, but I think some of the more important moves at the moment are actually outside of equities. Not to mention the record high in the S&P 500, we'll get to that. Just having a look at gold here. I pointed to this potential breakout last week, and it looks like we could be in the midst of a breakout of this key. It's basically the 1 to 20 number, but it's a bit more specific than that. You say 1, 2, 3, I would say is that level specifically been hit about four times, and as of today, we look like we could get another close. Friday was pretty negligible, but according to our chart, it's pretty much closed above it. So then, if you're taking this, which a while back I highlighted as an inverse head and shoulders pattern, we've got some false breakouts down here, and probably shook a lot of people out of that possible trade, but now we're back up again. There's a bit of a dubious one, a pretty shaky left shoulder, a pretty extended right shoulder, but nevertheless, this is still quite a key area, but if you do take that height there and extend it beyond, it takes you quite nicely to this January peak. So we could be looking at 1,300 again in gold if this breakout has any legs. We've also got a declining RSI trend line here for what it's worth that again suggests that we could have a bit of a game changer in gold. When you're trading gold, always good to have a look at what Silver's doing, because if it's confirming the break, then it shows them it could be a bit more reliability in the breakout, and Silver arguably is an even more notable break than gold. This is something I highlighted in the video snapshot at the tail end of last week, and it's followed through so far. You can see this was quite a long-standing declining trend line that a lot of people all have had on their charts, because it's fairly obvious, and it kind of forms part of a sort of triangle pattern with arguably 1550 as a base. So if you think about what's really been happening here, is that sellers have been just failing to push price below 1550, or at least close it below since the beginning of the year, and now we've actually managed to overcome this declining area of where the seller's been coming in. So we're now up into this, what has been a sort of supply zone, but I would say given the fact that we got very close to it before and failed, this time I think there's a bit more chance that we actually push up to the top of it, and certainly 1850 will be a big barrier, but to me if this pattern has any weight, which you could maybe take 1550 to the height of the triangle here, that carries you up about 20% from the breakout. So these objectives don't always work, but that was something I highlighted in the snapshot video from last week, so if you haven't watched that already, worth a quick watch. Again, but what fundamentally would trigger this, I think it's already started to happen this trade, whether it actually completes, but again a lot comes down to the Fed in their minutes this week. Now flipping over to equities, start with UK markets, and that being the case, put a little note on here just to kind of help us out here. This is some of the kind of key data points I'm looking at this week. So when we're talking about the UK, inflation data tomorrow will certainly be important. We had the Bank of England last week suggesting that they expect to see deflation in the UK, so there is an outside chance, not even outside, distinct possibility that we'll see deflation for the first time in recorded UK history at maybe minus 0.1%. Although that risk has been reduced somewhat because oil prices have bounced, but there could be some sort of residual effects that's translated into the cost of production and things, so the wider inflation measure could still drop in a sort of delayed effect. So that would be on the face of it, a bit of a negative for the pound, and again, perhaps another reason that that 158 level could suffer. Generally speaking, the rule of thumb for equities at the moment though is that anything that points to lower interest rates for longer deemed to be positive. So in the UK 100, we've basically come below these moving averages, so not such a definite uptrend at this point by any stretch. It's already been a slow progress uptrend with each peak slowly not making as much progress beyond the previous. This is a rising wedge pattern which is bearish. It doesn't necessarily mean we've reached the top of it yet. We could still test the top of the pattern again, but there was this trend line which has been sort of dubiously broken. We're sort of retesting from the underside right now and it's work, you know, feasibly coming into play, which could point to a move back down to test this spike low. But I think this is probably the main line that we'd be looking at at the moment. So a break below there is what's needed to really kind of change the sentiment on the UK 100. And should inflation start to pick up? Arguably that's, you know, that's negative for the index. If inflation really dips down, it's not great for the economy, but arguably means lower rates are longer for the UK. So that could, you know, net the benefit for the UK 100 here. Now, if I just minimise this again, a couple of earnings to be to note for this week, marks and expenses on Wednesday, raw mail on Thursday. Then the other big UK announcement is UK retail sales on Thursday. Jumping over to US indices, so I just mentioned obviously probably aware that we finished on a record high according to the cash index last week. According to our charts, you know, it's derived from futures prices. We didn't really push through that intraday peak. And we're coming off from there at the moment. So this is one where, you know, the longer term trend is obviously higher. If we, you know, remind ourselves, look at this weekly chart, you know, not much to line this as an uptrend. You know, we're well above the 21 week moving average and the 55 and above this rising trend line, which has had three odd touches. So longer term uptrend. So you've got to be careful when getting bearish at these kind of levels. You know, people have been trying to short this market all the way up, you know, in trouble. But nonetheless, on the shorter term in these kind of range trading environments, you've got to be aware of the fact that a lot of the time the range maintains. So the probabilities are with the range maintaining and selling back into the range. Obviously at some point that doesn't work. We had a number of tests so far. So, you know, if you are a believer that this long term uptrend is going to resume, there's no particular reason to believe it shouldn't, then actually you're looking for opportunities. By the bottom of the range, obviously they're lower risk. But, you know, if you think that, maybe that action from Thursday last week was quite strong. You know, we could even just go as far as 2110 before, you know, we actually see that dip and break out just a test of that previous high, which was what we broke through on Thursday. Or we could maybe get a dip into these moving averages perhaps down to the bottom in this kind of range which has been holding quite well at 2070. So, not a certain uptrend at this point. You know, if you're looking to buy dips, probably the better strategy at this point is to wait for the more defined breakout and then wait for a dip from there. At the moment, this is not really dip buying territory in my book. It's range territory, which you want to be buying and selling on the top of the range. Looks very, very similar with the US 30. You know, we could be looking at the same market almost here. Touch of that high, coming off it. Now, that's potentially a bit more interesting. We had a, you know, I mean, what you could argue to be a bit more weakness and that we haven't actually retested the peaks. But we did get the break of this declining trend line. So potentially just a dip down to this breakout area here which corresponds with the 21-day moving average. If this trend breakout in the S&P and the US 30 soon continue, then we've actually got a bit more value on the Nasdaq. I think while we're above this rising trend line, we're still in business on the Nasdaq for the uptrend. And so, you know, we don't know if it's going to hold, but probabilities suggest it should. Germany 30 here, we've basically got this situation where these trend lines are really determining what's happening. We've got this declining rising trend line through the peaks, which we pretty much came off. Now, we haven't quite tested it perfectly. You can see that's broadly speaking what's kind of defining capping the upside. And there's a longer term rising trend line here, which is capping the downside. So turning into a bit of a breakout trade. Again, the longer term trend is up. And also looking at these two longer wicks, I would suggest that still, you know, we've got the 21-week moving average we've just bounced off. So a nice way to be a bit more conservative here is we do have this declining trend line. So if you're not quite sure if this is the end of the correction, there's a bit more of a technical confirmation to a break of that trend line, and then you're a bit more positive about the fact that we're going to move higher again. But yeah, one of those, well, obviously, we've failed to, you can see here the kind of progression of lows. Made this low, bounced up, okay, fair enough. Made a new low, but weren't able to really close below this low here. Came up again, didn't make a new high, but came back down. And now this is the low we've got our eyes on. Weren't even able to kind of spike through it. So a gradually sort of, you know, a bit of kind of a weakening of this trend. So it could certainly consolidate and break down again, but suggest that perhaps we're putting a bit of a base in. And then just, you know, you need that confirmation of the breakthrough here to really know it's taking place. But, you know, if you're looking for value, then you buy within the consolidation just at higher risk. Any questions at all? Obviously, you know, five and three, if there's some particular levels or markets that you're following that I haven't touched on yet, then, you know, feel free to send a message through. And I'm happy to cover those. But I think the other big one that we didn't quite touch yet, we looked at golden silver, which kind of breaking out, but while they are looking higher today, there's a bit more downside risk, arguably, to the oil markets. So let's have a look at the longer term prospect here. Now, you can see, basically, put in what you could quite comfortably say is a sort of double bottom and broken out from in WTI. So if you are using a sort of double bottom and take the conservative low here, go up to the neckline and then look for an area of possible objective from the breakout and this consolidation higher, then we're actually looking at more like 60, 65 in WTI. And just above that is this 38.2, which in a, again, another commodity snapshot video, I mentioned there's 67, which would be another possible objective here since 23.6 capped us for a little while, moved above that. And we have a couple of areas that 55 to 57 area could still be on. But what's happening here is that we've had this change whereby we started to see U.S. inventories and the weekly data decline. Now, that had been speculated on and that was largely the reason for this rally. And now what we've seen recently is, on the last couple of Wednesdays, we've actually seen a spell off on that, what is actually quite positive data in a sort of buy the room or sell the news kind of situation where you're buying into the release, showing a decline in U.S. production. So, you know, decline in production, decline in supply, that supply demand imbalance, which has been holding at all prices down, is lifted slightly. So, this is not necessarily to say we're heading up to $100 per hour oil again, the whole thing's completely changed. The U.S. still are producing oil and the Middle East are producing as much as they can to maintain market share. So, there's going to be limits to how far this can go, but obviously it's a better situation now than the U.S. just continually increasing the amount of production and increasing the global supply of oil. So, I think that's a good point. The U.S. just continually increasing the amount of production and increasing the global supply of oil. But for the moment we've got a bit of a cap here, but if we're taking those objectives for any kind of meaning, then we've still perhaps got a bit of room to $65. Again, obviously all these commodities are dollar denominated, so the breakout may again rest on the Fed on the FMC minutes. I mean, I think these minutes are probably going to be pretty neutral. The statement was very hedged, so they reduced the economic outlook, but they still left a rate hike as early as June on the table, saying that they're going to be data-dependent going forward. So really at any of these meetings, probably the meetings that involve a press conference, there could be a rate hike. And that's the threat here. And that's the possible reason for commodities to break higher. But my opinion is that probably there's going to be a lot of talk about the kind of economic concerns and maybe that on edge be taken as a sort of neutral to dovish and not necessarily an outright dovish saying that we're not going to high-grade this year or anything that would create a major rally in equities and a drop in the dollar, but enough to be not such a barrier and that we can look through it for now. So that was what was that WTI I was looking at. Let's just have a quick look at Brent here. Brent, similar picture in terms of we've got this kind of bit of a consolidation happening. Same thing on these last two Wednesdays is when we send the sell-off and then another run-up. So we cured based on the previous pattern expect a bit of a jump tomorrow and then the sell-off on Wednesday if that same pattern keeps happening. RSI pattern to note here is that we have seen a dip through the RSI trend line, but we're still holding this 21-day moving average. So again, you'll notice that with the currencies and with the commodities, a longer-term sell-off that we've had to deal with and now we're sort of breaking higher. So it's one of those where you're not, you're still beneath this 55-week moving average on a lot of these like the pound, the euro, gold, Brent, all of these, but we're getting a bit of a run-high at the moment. So it's one of those where the trend is higher in the short-term and it's generally for short-term trading the better trend to be aware of but you've just got to be aware that you haven't got the support of the longer-term averages and the overall longer-term trend could still be down. Is there anything? Well, I guess what I haven't really mentioned, which I will in the last couple of minutes here, is just that we've got, so I mentioned the Fed Minutes, which is going to be the big one, but we do have minutes from the Bank of England on Wednesday and some notes from the ECB on Thursday. So now we did have the Bank of England inflation report quite recently, so that's really arguably a bit more current than these Bank of England minutes, but nevertheless either are going to be a bolster or a headwind to the British pound that are definitely important. I think that's about it. I think I've said all we need to know. I hope that was useful and good luck with trading, but I think this is Jasper Laws signing off. Thanks all. Have a good one.