infin0

infin0

There is serious support at 1670 and a long way to go if this support is broken. Watch for what happens next. Bond prices and inflation data will guide the price as the gold price is being depressed by real interest rates (bond yield less inflation). If bond yield goes up then equities and gold go down. This will also cause strength in the USD which will...

infin0

The overall trend from the COVID low remains bullish. Australia's economy is roaring and the US is preparing to issue $1.9 trillion in stimulus which will go straight to consumption (there is another infrastructure spending bill proposed as well). Australia on the other hand has tapered off all of its COVID supports and its economy is roaring along - the...

infin0

The AUD has just rebounded from an area of strong support.

infin0

A series of lower lows looks like AUD is about to break down. At the same time DXY just made a higher low.

infin0

Due to the extremely high level of short USD positioning it appears there could be a period of unwinding. Major support area breached.

infin0

Gold has been bullish for the last 2 years and now reaches an interesting juncture where its latest retreat presses against its upper trendline. Instinctively, I am thinking that the falling USD and ample USD liquidity means this line will break higher and Gold will head higher again. Central Banks are selling gold however and there may be a shift from Gold to...

infin0

A clear level of support at 74-74.5, wait for it to return then buy for next wave higher.

infin0

from a purely technical appearance, the AUD seems to have exhausted its gains. USD has been punished and value hunters could come next.

infin0

The risk off environment, if it persists will be bearish for gold. This descending wedge will see 1850 tested at some point. It may bounce off! But it doesn't look inclined to do that especially as BTC is rising.

infin0

I just don't see a lot of reasons for the USD to be strong in the coming weeks. There is talk of even MORE stimulus, the Fed is buying corporate bonds, gold is trending up, and the US economy could really use a weak dollar right now. I sold the head on this chart and closed it out for about 70 pips, and it looks like it has made another rolling formation for the...

infin0

SPX and AUD seems to have moving in unison lately. I opened a short at .682 and think this could fall to the next support.

infin0

Just when it looked like it was done, the AUD blew straight through the support resistance line, on both continued iron demand, high prices, expanding infections in Brazil the major iron competitor. On the other side USD is showing continued weakness. And who knows htf these riots are going to end. USD will recover inevitably due to EM market demand but AUD...

infin0

Trade war rhetoric could spook the AUD into a pullback. A lot of AUD good news is priced in at this point.

infin0

There is a major resistance at 2800 being 50% retracement of the bear rally. Looking at the 4hr chart, the SPX loses momentum at 2750s. This is a low risk trade with a tight stop. if it breaks out watch 2800 for next sell, or else away we go higher! Trade active sell, 2754, Stop loss 2769.

infin0

It seems fanciful that oil produciton would be cut by the major producers when they need this revenue to obtain USD and support their government budgets. This recent surge is based on hope. There is a major glut of oil supply and sunk costs which compel the producers to keep on producing. Macrovoices is a great podcast to learn more about the Oil market. Trade...

infin0

The QE forever shock belted the USD and I hope you made some big $$$ from my earlier post. Momentum seems to have shifted as traders realise that globally there is still a massive USD shortage, and US equity outflows seem to be neutralizing. Despite the rampant global money printing, USD is one thing in demand. The next move could be beyond 103-104.

infin0

Since QE Forever by the Fed was announced on the weekend the USD has sunk, forming both a cup and handle and sinking through a medium term trend line. If support at the 101 level is broken then the USD could fall quite a bit. We are now in a gloves off global currency devaluation war, and the Fed has removed the US govt's last constraint to weakening the USD. ...

infin0

Interesting cup and handle has formed with the AUDUSD. After closing out the short scalp, the AUD bounced rapidly on the back on news about US stimulus which appears to be placing pressure on the USD (DXY is falling as well), now the AUD has broken through strongly. Cup and handle is usually a very bullish signal.