The QE forever shock belted the USD and I hope you made some big $$$ from my earlier post. Momentum seems to have shifted as traders realise that globally there is still a massive USD shortage, and US equity outflows seem to be neutralizing. Despite the rampant global money printing, USD is one thing in demand. The next move could be beyond 103-104.
Since QE Forever by the Fed was announced on the weekend the USD has sunk, forming both a cup and handle and sinking through a medium term trend line. If support at the 101 level is broken then the USD could fall quite a bit. We are now in a gloves off global currency devaluation war, and the Fed has removed the US govt's last constraint to weakening the USD. ...
Interesting cup and handle has formed with the AUDUSD. After closing out the short scalp, the AUD bounced rapidly on the back on news about US stimulus which appears to be placing pressure on the USD (DXY is falling as well), now the AUD has broken through strongly. Cup and handle is usually a very bullish signal.
Why are people buying stocks today? Are they bored? Walk around outside, it's a shitshow. Sell this madness. TRADE ACTIVE
Short opened at 1485, Target 1455. Stop 1492.
Central Banks will eventually have to unleash massive stimulus to pump up flagging economies. Gold is only going one direction from here. Grab a bargain while the world is going mad. I thought we had not chance of 1511. Wait for the dust to settle, so we arent catching a falling knife and then load the boat. Back to $1680 is very possible.
Expecting a bullish day on wall st with Trump stimulus announcement due. 150 pts would be great but take whatever you can get. Buy active.
The fall in the USD against Yen and Euro has definintely been weird, especially since the enormous fall in US10 year yields. I can only imagine it is the unwinding of US equities investments and repatriation of cash to EU and Japan which has caused the falls. At some point these investors are going to need to return to invest in US as returns in Japan and EU are...
economic conditions were better at both of the indicated bars. This market has a long way to fall, Central Bank stimulus will not assist because just like in Japan - depressed community attitude means they don't spend in any case. I don't think it is so silly to see the SPX below 2300.
Seems to have hit resistance. Stop loss set at 3137. Target is anywhere below 2900.
This was a great trade, let's see if it can happen again.
High risk reward to test if this high mark will be broken.
Momentum has stalled. If the trend continues I will stop it out. However, look for a break lower, especially if Euro can turn around. Low risk, see what happens.
In my view this impulse up will be short lived. The savage sell off just weeks ago shows how easy it is to sell AUD. More to go.
A clear bounce from the 1550 support level. I opened a buy at 1552 with a TP at 1599.