- Ichimoku setup is bullish
- Heikin-Ashi turns bullish from Kijun support. haDelta/SMA3 back above zero.
- EWO is bullish
It seems the pull back and bullish consolidation is over. Market ready to go back above 132 again.
Possible translations:
- FED is deadly wrong (assuming market is right most of the times) and US is turning into recession -> US bond curve flattening may go further. Bond market just can not believe in any more hikes this year (nor does FED funds pricing)
- Risk off will dominate again in equities
- USD buyers can face problem soon -> USD should weaken, or at least not strengthen further
- If all yields globally go to negative and naturally US yields go lower too, then Gold will look even more attractive
- Heikin-Ashi turns bullish from Kijun support. haDelta/SMA3 back above zero.
- EWO is bullish
It seems the pull back and bullish consolidation is over. Market ready to go back above 132 again.
Possible translations:
- FED is deadly wrong (assuming market is right most of the times) and US is turning into recession -> US bond curve flattening may go further. Bond market just can not believe in any more hikes this year (nor does FED funds pricing)
- Risk off will dominate again in equities
- USD buyers can face problem soon -> USD should weaken, or at least not strengthen further
- If all yields globally go to negative and naturally US yields go lower too, then Gold will look even more attractive