Above 6100 we look for a rebound consolidation period. Below 5992 this idea become invalidated as dip buyers will get taken out the back and shot.
Watch for the market to reverse around the 7000 level as market participants make decisions to unwind their long positions and/or open large short positions to solidify a downtrend on the bigger timeframes.
***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK
Clearly there is a correlation between dollar value (not price - that's interest rates) and equity valuations, metals, FX, etc. Notice how metals and equities rallied at the same time... equities have been the better hedge as we anticipated.