The news out cited that the bond auction demand is strong that led to US dollar corrections as the reason in tonight's move. Technical reasons on short NZD/USD: 1. The daily chart shown above shows that the price action hits the upper bound of uptrend flag patterns (parallel to USD/CAD) 2. The 200 SMA also acts as resistance cluster of NZD/USD. Trade...
The news out cited that the bond auction demand is strong that led to US dollar corrections as the reason in tonight's move. Technical reasons on long USD/CAD: 1. The daily chart shown above shows that the price action hits the lower bound of uptrend flag patterns. 2. The 200 SMA also acts as support cluster of USD/CAD (MA 200 not shown on chart above). Trade...
Technical: 1. Gold has been in steady uptrend channels for 9 trading days, but the recent price action overlapping the upside channel suggests that the correction is due. In addition, the 2 times rejection shown on chart also add to our short-term bearish bias. 2. The room of corrective moves in gold is seen to touch 1660 - 1665 area. Trade ideas: We generate...
This looks particularly bearish for EM, unless the dollar tops this month!
There's a decent correlation between EM currencies and the Euro. Whilst EM equities take a cue from their currencies. Hence, this chart might appear unrelated at first, but the EEM/SPY ratio might yield clues on the euro...
Today in unusual inter-market relationships we have Copper/Gold vs the US10Y. I need to think about this more to grasp its claims upon reason, if indeed there are any!
Who pulls whom!?!
In an unmistakeable correlation, a higher short end of the curve means gold is relatively less attractive to own. This argument has strong claims on both reason and evidence... Hence, with a hikepending, watch for gold lower.
Bias: Bullish Toward Channel Top Near 127 Point to Establish Long Exposure: Into Ichimoku Cloud in the 122.18-123.06 region Invalidation Level: Channel Low & 100-dma 121.55 Target: 127+ The JPY has strengthened vs. the USD ~0.5% on the weekly open after China's Shanghai Index dropped 8.6% to open the week. However, the risk-off sentiment seems to be...
Intermarket Study for 2014 Utilities - XLU - and Health Care - XLV - Outperformed in 2014, and these two sectors saw the biggest % gains later in the year. Health Care and Utilities are considered economically insensitive sectors, and tend to outperform when the market is at risk of a pullback or a sideways markets. Historically, economically-sensitive sectors...