US 30 4 HOUR CHART – DJIA CLOSE ABOVE 40000
While US30 closed just above 40000, it stayed below the 40053 high
Looking ahead, there is only one level to watch and that is 40000. If it becomes support and 40053 is taken out next target would be a guess.
Of course, a failure to break the high and hold above 40000 would suggest a faikure but there is noi percentage to stand in from of a fast-moving train.
Of interest is all markets ignored a rise in US bond yields today
Next week sees a very light US economic calendar.
BTC DAILY CHART – LAGGING BUT…
Since BTC trades over the weekend let’s see where the risk lies.
As I have noted many times, I look at round number levels like 60k, 65k, 70k
In this regard, if BTC can hold above 65K then the focus will turn to 70K
If not, then the choppy trade will continue.
So far, BTC has been lagging the move up in gold so see now if it tries to play catch-up.
US 10-YEAR TREASURY – NON-CORRELATION DAY
Note the price of bonds is inverse to the yield. 10-year is currently at 4.418%, the high of the day (low for the bond price)
If the forex market was correlating with the yield in bonds it would be a different story today but such is not the case.
Yields up, USD down gold up. stocks mixed.
Note USD was up earlier with firmer yields but has since decoupled.
This chart is using The Amazing Trader and what amazes me, and I created the charting algo, is how it performs with any instrument your broker offers and in any time frame.
USDCHF 4 HOUR CHART – WHY IS USDCHF BID?
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USDCHF is bucking the weaker USD trend elsewhere as can be seen by this straight line move off its low.
The significance of .9102 is that a break would confirm the end of the last leg down and open the door on the upside.
Why is USDCHF bid?
Scroll down and see the posts on CHF crosses.
EURCHF WEEKLY CHART – DOES 1.00 LOOM?
I can’t believe I am even posting a EURCHF chart. I swore off even looking at it following the infamous SNB-inspired 2015 flash crash when it pulled support from this cross at 1.20.
EURCHF resistance at .9878 has been tested and its significance is that if firmly broken it would have the market talking about 1.00.
I POSTED THIS YESTERDAY AND IT IS LIKE A DEJA VU TODAY
FOR THOSE WHO MISSED THIS OR WERE TO REMIND YOURSELF, IT IS WORTH READING
This is a really good tip to keep in mind,… Look at THE price action so far in the US session
Actionable Forex Trading Strategy When to Fade a Correction
Actionable Forex Trading Strategy When to PORICE Fade a Correction
US 10-YR 4.404% +0.027; DLRx 104.55
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DLRs got bit of phillip but imo will need to climb N of 105 and sustain
Sup 104.15
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psst … gamechager:
The Russian announcement of a massively massively crude deposit – around 511 billion barrels worth of oil, equating to around 10 times the North Sea’s output over the last 50 years – is going to unleach animal spirits and hinder ESG regardless of tree huggers screams
EURUSD 15 Minute Chart -Directional Shift
Using the AT Ladder strategy, the pattern shown in this chart gave a buy entry signal at 1.0843.
Modest move so far but it did indicate a change in directional risk.off the low
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