here is a LT channel of dxy index. set up resembles the one in 2011. time frame here is a bit too long to show the way for the short term trades yet good to have a look....
kozal testing downtrend resistance, moving avgs started to gain ground. break above 33.60 can trigger fresh buyers...
Pause for a second and check this out. the most significant correlation btw the yields and ccy is changing (or already changed). higher yields lower dxy tells me that the investors not only selling US papers but they are also taking their dollars back home. chart attached: bars US10 yields, green line DXY, blue GOLD. markets started to treat US assets like an EM...
the stock has been underperforming the markets since the days of homoerectus. for a good reason tho... but thats another topic for fundamental guys, we stick with our charts for the moment.... after dipping 20% without any correction the stock is trying to find a bottom arround 7.10s. can spot the bullish divergences on mom indicators. prepared for a long trigger here.
eur hit the st supoort following the US data, if holds we might start with a small relief rally on monday... fingers crossed, good luck all!
get ready to pull the trigger above the neckline. looking very bullish, tho we must always be ready for whipsaws and be on top of the position
US 10 YR yields just surpassed the 2.6270% level. this is a typical bullish bottom pattern and looks like a weekly closing above 2.63% will trigger more activity to the market. I d recommend extereme caution on EM long positions...
decent rev h&s, long way to reach the neckline yet can play the ST breakouts
US Generic 10 yr yields took a leap towards the reverse h&s neckline, 2.60% is the key level the watch. if yields breach above 2.60 music stops for the long EM trades for the short term! hedge longs especially fragile 5s ccy and bonds
chart speaks for itself, decent break out from bottom formation with +2500 points potential
decent head and shoulder formation at top, if it can breech left shoulder at 17700s expect big rally to follow, if breaks below 15900s there is a good 5000 point downside risk... now it is a waiting game.
Bullish bottom formation about to signal a buy trigger. 11.85 is the neckline and 11.03 is the horizantal resistance