The S&P 500 carried over the bearish momentum that risk trends experienced last week, but the index looks stretched and faces significant technical barriers ahead. Meanwhile, the Dollar-based majors are staged for technical reversal with event risk and liquidity conditions blurring the intent for the next stage.

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The S&P 500, Dow Jones and Nasdaq 100 sank on Monday as Treasury yields rallied, extending moves from last week. This is leaving APAC equities, like the Nikkei 225 and ASX 200, at risk.

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The US Dollar printed a doji for last week’s candle after running into support at the prior 2017 swing high, but can EUR/USD and GBP/USD force bearish turns?

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While many of the major central banks have already closed their books on their policy for 2022, the Bank of Japan will decide its last effort Tuesday morning. Though it is considered a fully-committed dove which has anchored the Yen, those unquestioned expectations and serious technicals from pairs like CADJPY present potential.

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Gold prices are testing the 1800 handle after printing a second consecutive doji on the weekly chart.

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