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DXY Is Long-Term Still BearishOne of the main reasons why USdollar – DXY may stay weak is DXY/ZN (DXY against 10Y US Notes) ratio chart. Now that 10Y US Notes is looking for a bigger recovery, DXY could easily see more weakness, as DXY/ZN ratio chart is still looking lower, but ideally once current bearish running triangle in (B) fully unfolds, which can be in final stages. With bullish stocks and while bonds are trading at potential support, there's no real reason to be bullish on USDollar, so DXY is long-term still bearish. DXY/ZN ratio chart is now at the upper triangle line for potential final subwave E of a bearish triangle in (B). Bond market recovery, may slow down the USdollar again, which can push DXY/ZN ratio chart into wave (C), but confirmation is below lower triangle line. However, of course, if USDollar will keep recovering, then DXY/ZN may face higher resistance for a flat correction within wave (B), but it’s still bearish on a higher degree time frame, so sooner or later DXY will back to bearish mode.
TVC:DXYShort
by ew-forecast
If Litecoin Will Outperform BTC, Will BCH Outperform LTC?I noticed a lot of twitter talk on the LTCBTC ratio chart about to breakout. A very nice looking chart pattern. My question is if LTC is about to outperform BTC, why not BCH outperform LTC? It seems to be forming a similar pattern to LTCBTC. They are both highly correlated cryptocurrencies as well. Both LTC and BCH seem to have fundamental catalysts that could push them higher. Mimble wimble upgrade for LTC, and the SmartBCH sidechain for BCH. Will be interesting to watch how it plays out. Please comment. Thanks!
by jaepayne
3
VETUSD Ve-chain Trendline Support VETETH Bottoming FormationVe-chain VETUSD approaching trendline support on 3 day chart. While at the same time VETETH pair looks like it is about to bottom. RSI divergences and oversold levels have historically marked each major bottom in VETETH. Both ETH and VET are smart contract platforms, it makes sense for holders of Ethereum to rotate profits into a project like Ve-chain. A similar bottoming pattern was formed in the ADAETH pair earlier in the year which marked the start of a big run up for ADA.
BINANCE:VETUSDLong
by jaepayne
2
SP500 Broke 2018 Highs In Gold Price; Time For A Pullback?!Hello traders and investors! Today we want to update our SP500 against GOLD, SPX/GOLD ratio chart, which we see it now breaking 2018 highs, clearly within an extended wave 5 of III, which means that we should be now aware of a pullback that can cause limited gains on SP500, while GOLD may become supportive. Notice that GOLD is currently trading at strong 2019 trendline support, which was resistance from March 2020 COVID crysis, so in case of bounce and recovery from that projected support, bulls would be still in control. We also want to mention that SP500 can be finishing potential ending diagonal (wedge) pattern, while GOLD can be forming a big bullish triangle, now at the lower side of a range. However, more about this in our next article as the price action unfold. Be humble and trade/invest smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
SP:SPX
by ew-forecast
2
Elliott Wave Analysis: SP500 Is Nearing 2018 Highs In Gold PriceHello traders and investors! Today we will talk about stocks, specifically S&500 against GOLD (SPX/GOLD ratio chart), in which we see an interesting development we want to share. As you can see, stocks remain in the strong uptrend and there can be room for more gains, we just have to be aware of another, higher degree correction as S&P500 is approaching 2018 highs in gold price, clearly for the 5th wave. We know that after every five waves, a three-wave correction follows, so be aware of limited gains on stocks, while GOLD may find the support soon. Of course, it's a weekly chart and there's still room for slightly higher levels to break into 2018 highs, so it may take some time before we will see a change in the trend, ideally till the end of summer. Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
SP:SPX
by ew-forecast
2