Taking a long sugar trade. Grains, in general, are well bid and DBA is another class you should look into. The fundamentals are backing up the technicals here. Key reasons for this trade:
1. Chikou is above price on daily.
2. Daily Kumo and kijun provided support on price pullback and today was a sharp reversal day.
3. Weekly macd is crossing up and Price...
Eurusd is a slow grinding falling wedge and daily is starting to confirm my bias now. I expect a major rally to the upside. I am not long yet but i do believe that bottom is in. Waiting on daily cloud break to buy. Will update here once chart confirms. Just putting my thoughts out here.
Party is just getting started. A major risk off will be triggered by the breakdown. Key risks being china and the global banking sector breakdown. Sell any spikes in usdjpy. Very nice weekly chart with macd crossed down near zero line and chikou below price, confirmed by bearish daily ichimoku chart.
Thanks for the read
Added more to my AUDUSD short. I been short for a while. Both aussie and euro. Adding to both. Reason: Bearish weekly. Let's see how this plays out. On the side note, my gold short is doing fantastic from 1330sh.