Looks like silver is hammering out the low of the right shoulder. Something to watch
GBP slightly stronger than JPY. RS reading GBP = 2, JPY = 0. Favoring GBP because of weekly and daily uptrends.
Looking for selling opportunities on EURGBP. RS reading EUR = 1, GBP = 2. As you can see they are very close to each other so it could go either way. Favoring shorts because of weekly + daily downtrends.
AUD is the strongest currency in the majors and could continue its march higher. RS reading: AUD = 7, USD = 3. Still riskier while DXY is in a uptrend Looking for demand to hold if price makes it back down to the area.
USD is strengthen but NZD is still stronger. RS reading: NZD = 6, USD = 3. DXY in an uptrend so there is more risk of USD strength to continue. Looking for demand to hold.
Price has dropped to an area of demand. Looking for a bounce but both currencies are strong although NZD is stronger. More risk of volatility. RS reading NZD = 6, CAD = 5.
EUR is starting to wake up! JPY still weak. RS reading EUR = 2, JPY = 0.
A new area of demand has formed on GBPUSD. RS reading GBP = 3, USD = 1.
EURCAD rallied into supply. Daily down trend with CAD in control. RS reading CAD = 5, EUR = 2. Looking for area to hold
Looking for longs on NZDJPY. RS reading NZD = 6, JPY = 0. Daily up but stocks are dipping
Still trying to get a NZDUSD long to stick. RS reading NZD = 6, USD = 2. Sentiment still overall bearish
GBPNZD made an area that looks good to me. Waiting for a rally to supply, entry at the area. RS reading NZD = 6, GBP = 3.
Looking for longs on CADJPY. RS reading CAD = 5, JPY = 0. Daily trend up
Looking for longs on NZDUSD. RS reading NZD = 6, USD = 2 while retail crowd is overall bearish at -2.
Waiting for price to reenter the area around 85.00. Daily up, RS has AUD = 6, JPY = 0 and sentiment is growing more bearish. Longs only for me at this moment
The USD index is showing weakness as price has been able to break through prior demand. It looks like bearish momentum is growing as the rate of change indicator is increasing during the current price decline. The average rate of change has been increasing to the downside. The ADX indicator is increasing, giving weight to the current decline's strength. Looks...
Looks like USD has room for the continuation of strength. This index is very similar to the DXY and I could have chosen to use the DXY but I like to be different :P This index is constructed to reflect the same kind of information: USD strength or weakness. I will be looking to pair the USD with weaker currencies for the strongest trends focused on high quality entries.