AUDNZDI like the idea of going long here. A break of this support will most likely bring a test of this years low, so i'll look to follow the move down.
Usdx
SilverShould retest $17 if we see the break maybe higher. Move above 18.75 long term bull market should be in place.
PlatinumI'm already long. I will add to my longs in that pretty little red zone.
Gotta respect that trend!
USDx teetering on the edgeAfter closing below 94 on Friday, this gives a lot of downside exposure as this close displays a lot of USD weakness. If you look at my idea on EURUSD and USDJPY, I have been a strong proponent of USD weakness since late December/early Jan. With the Euro looking like it wants to push up to 1.23/24 (linked) and USDJPY wanting to push lower to 102 and potentially lower yet to 96, it could be a very sharp and swift decline for the dollar.
SILVERSilver looks like is carving out a bottom. Could be the start of a long term rally!
Need to break 18.50 though
USD long, especially against JPY, CHF, GBP and EURSeeing the low of May 3 as the price bottom of a 3 wave correction for the previous leg up from 72 to 100.
If that proves right, aim above 114 and towards 120.
A more complex correction, with a low in the area of 89 or 90, shall not be excluded.
COPPERDollar looking weak! It breached key support and it looks like it has formed a double top.
If the dollar continues lower, then copper and other metals should continue higher.
USDX turningWe now see what we predicted 2 days ago, big wick, we didn't break lower lower so we are expecting bullish move. Add to that that we are sitting at a major number 94 which all the MM loves. Hold on to your hats, we coming in to Wednesday and we all know what that means, we have peaked (pivot), time to turn the time around (if you know me then you know what I'm saying, reverse your trades).
Possible S&P500 ShortPossible Short entry if price closes below and holds trend line. Looking to see a death cross form. Although it is far too early to tell.
GOLDThink Gold needs a bit more buyers to get through 1270+. Maybe it will find those buyers at the low 1200 mark or just below it?
We will see.
USDX prediction for the next 7 daysI believe the USDX will climb to 96.71 with a possible spike to 97.20 in order to take out stops and take liquidity.
