Silver Lining II
Updated
Daily RSI divergence during the low.
Funny enough the low seems to have occurred again during full moon on march 1.
CoT looks better now, compared to december last year. Even more, if I`m not missing something, then this is the first time since march 2003 that large specs are net short.
A close above the 10ema (16,51) today would be another positive sign for me.
Especially Gold has been highly correlated with EUR/USD in the last few weeks, more then normal imo.
EUR/USD and DXY are close to their multiyear trendlines, so I´m looking for a conservative 17,20 as my first target, then take it from there.
SPD in Germany gave the ok for a grand coalition this should support the euro for now, as market waits for the final outcome of italy election.
Funny enough the low seems to have occurred again during full moon on march 1.
CoT looks better now, compared to december last year. Even more, if I`m not missing something, then this is the first time since march 2003 that large specs are net short.
A close above the 10ema (16,51) today would be another positive sign for me.
Especially Gold has been highly correlated with EUR/USD in the last few weeks, more then normal imo.
EUR/USD and DXY are close to their multiyear trendlines, so I´m looking for a conservative 17,20 as my first target, then take it from there.
SPD in Germany gave the ok for a grand coalition this should support the euro for now, as market waits for the final outcome of italy election.
Note
Took some time but target hit, looking at the size of the MM short position in CoT this might just be the start of something bigger. Let´s see how the week finishes.Note
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