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Market Update: October 21
There is no change to DXY comments/opinion but I wanted to reproduce this chart because the index is nearing critical support at 92.17/30. The level is defined by long term trendline support (see longer term chart below), daily reversal support, and 2 legs down from the 9/25 high. This needs to hold if the range from late July is going to resolve to the upside.
Market Update 2/2 – SPX into Resistance
SPX has retraced 61.8% of the decline from the high. This is also ‘original’ trendline resistance. This is a perfect spot for at least an interim high. I’m looking lower towards 4494 or so (2022 VWAP) and possibly 4404.
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Market Update 1/19 – Bearish USDCHF Setup
Is USDCHF about to get destroyed? After failing at a 2+ year trendline in late 2021, price has broken a year long trendline and now re-tested the underside of the line the last 2 weeks. This chart is extremely bearish.
Sterling Consolidates Ahead of Crucial Brexit Talks
GBP/USD fell to its lowest levels since July 28th on Wednesday, extending losses from the recent yearly high made on September 1st. The same day, the UK government published its Internal Market bill, outlining a plan to breach the pledges in the EU Withdrawal Agreement.
Daily Trading Analysis video with Jamie Saettele (24.04)
Jamie looks at the 5 wave rally into the April high in GBP/USD.