In the previous idea I just closed the hedges a few days ago - and we are long again -
I launch a new long idea because the setup is offering a brand new long entry here.
On May 23 we had an intermediate cycle low and a daily cycle low. Before that low every time price tagged the 100 SMA it dropped and made a lower low.
But after the last break above the 100 SMA - June 21- price not just didn't drop below the previous DCL , but also stayed above the HCL (1.1180)
This is how bull markets are starting. The dollar has serious problems. The next daily cycle will make higher high again and will break above the previous high at 1.1412.
It will also affect XAUUSD as gold will rally along the Euro.
RSI and SlowSToch are both leaving oversold territory and we don't have to worry about the long position before this 2 indicators reach overbought.
The other interesting thing that MACD is turning up above the zero line : I haven't seen this since 2018 March.
I launch a new long idea because the setup is offering a brand new long entry here.
On May 23 we had an intermediate cycle low and a daily cycle low. Before that low every time price tagged the 100 SMA it dropped and made a lower low.
But after the last break above the 100 SMA - June 21- price not just didn't drop below the previous DCL , but also stayed above the HCL (1.1180)
This is how bull markets are starting. The dollar has serious problems. The next daily cycle will make higher high again and will break above the previous high at 1.1412.
It will also affect XAUUSD as gold will rally along the Euro.
RSI and SlowSToch are both leaving oversold territory and we don't have to worry about the long position before this 2 indicators reach overbought.
The other interesting thing that MACD is turning up above the zero line : I haven't seen this since 2018 March.
Comment:
A “healthy” pullback. This happens when a central bank is in individual hands. And there is no government control on it. Trump’s work is not easy. His tariffs are useless in these circumstances.
