Dollar strength is only temp. I'm aiming for low 80s high 70s in the next year or 2 or maybe even 3 and further down as stimulus becomes the new norm. GL
Great area to buy as sellers are succumbing to buyers presure
There is a lot of noise in the precious metals market with the 10yr but overall i dont believe the correlation strong enough to keep gold and silver from doing what they do when the fed prints 1.9 trillion. Further more the 10 yr is also on a 30 year bear market and its running into some hard core resistance. Fed will accommodate as needed.
After yesterdays trade and taking profits i want to see how this market will react in these 2 areas. neutral for now
Dollar has gained some short term strength. Still very bearish overall on the USD but this should give us some quick short term opportunities to take advantage of. Looking for 1.2214 to break to confirm continued weakness on this pair. Once we see the break and a close below, then we wait for a retest of level to short
Weekly level of supply. Dollar index also looks like it will find some buyers very soon.
Big green candle couple with break of a strong trend line suggest a lot of buyers in this area. Long in this area is good risk reward!