JICPT| Choppy market with rising DXY and VIX
Hello everyone. I started to have the feel that market is waiting for something since Monday this week. Here I got four important underlying to check as below.
1. US 10Y yield: It's a cost rate for me. Now, it's in the middle of the New range with upper boundary around 2% which is the low case of the normal range. The rising yield weigh on stock index.
2. Dollar index: DXY is definitely in the uptrend. After 94.75 has been conquered, the next trouble level is 96.86. Normally Dollar and gold moves in opposite directions, not for the past two days. I will let it go if the current price is not at the key levels. We can cross check forex pairs to identify some opportunities.
3. VIX: Vix has kissed the control low area before falling. The holder zone is below around 14.13-15.12. The fall of t VIX will favor stock index.
4. Gold: After key trouble zone of 1835 was taken out, the target might be $1938 by applying measured move. We also need to watch $1900. That's confluence level of whole number and next control high.
Sometimes, we just wait for the best setups. No trade is also a good option in the choppy market, at least for me.
1. US 10Y yield: It's a cost rate for me. Now, it's in the middle of the New range with upper boundary around 2% which is the low case of the normal range. The rising yield weigh on stock index.
2. Dollar index: DXY is definitely in the uptrend. After 94.75 has been conquered, the next trouble level is 96.86. Normally Dollar and gold moves in opposite directions, not for the past two days. I will let it go if the current price is not at the key levels. We can cross check forex pairs to identify some opportunities.
3. VIX: Vix has kissed the control low area before falling. The holder zone is below around 14.13-15.12. The fall of t VIX will favor stock index.
4. Gold: After key trouble zone of 1835 was taken out, the target might be $1938 by applying measured move. We also need to watch $1900. That's confluence level of whole number and next control high.
Sometimes, we just wait for the best setups. No trade is also a good option in the choppy market, at least for me.
Comment:
Gold got a fake breakout. Now it's approaching 1811 which was served as trouble level for bullish buyers. It might serve as a support zone.
plan your trade and trade your plan
