Disclaimer: The above is not an investment advice. It is merely an opinion and I share it for your entertainment only. Do your own due diligence and above all, trade safely and stay safe!
You need to be paying close attention to the Dollar. We have some history written right on the chart if we'll just take a moment to interpret it. My interpretation might be different than yours but that's why we share our ideas.. and it would be a boring world if we all thought the same way. I don't watch the Dollar very often but I see very obvious price cycles...
UUP and DXY forming a descending channel +1.3% upswings, -1.7% downswings wide.
Inverse head and shoulders appearing, a touch between 25.03 and 25.08 sets up for a breakout entry, escape price 25.18, last key resistance 25.25
Getting long between 25.03 and 25.12, targeting 25.19 then 25.25. A break of 25.25, worth adding size to jump into the gap between 25.40...
After its bounce, Gold started to descend as the dollar is showing signs of bouncing back up.
Should stock show signs of weakness, it will bring this down...
50% FIB target around $43
Same analysis applies to GDX but target is different.
Disclaimer: The above is just an idea, not an investment advice. Do your own diligence, trade safely and stay safe!
Critical what happens next here for markets. Needs to regain 93.20s otherwise risk of a drop to 88.30s is in play. Bullish divergence showing but lower bolli kinked open 🤔
$UUP $EURUSD $USDJPY $EEM $GLD $TNX $TLT $SPY $QQQ #Currencies 💱
This craze could go on for a little while. who knows when the reality will catch up with the stock market, In the meantime, you can position yourself for a couple of potential explosive moves.
- Long bonds, they are declining today, could be a good entry price soon? No need for an idea here, just look at the March TLT chart.
- Long USD (see related story)
The dollar has been hit very hard lately with all this money printing from the Fed but some argument support the theory that it will soar one last time before the true descent.
The stock market (SPY) is climbing its wall of worries. It will break new highs if not done already by the time you read this. But then when it corrects, bonds are going to soar and...
In July, the US Dollar slightly broke down from its 12-year rising channel (diamond top pattern?) and all technical indications look bearish. Still a little early to be certain, but no doubt a major price resolution is coming very soon. $DXY $DX_F $UUP