Next week will be decisive for AU to continue as the huge weekly hammer predicted three weeks ago. Because the same hammer also formed a double bottom we would tend to feel secure about our bullish choice. However, this was exactly what happened back in June and the same outcome could follow again, and back then we also had UJ seasonality to back up as well...
What will it be? I predict upside because I can not let go the thought that every currency has to cycle, including the USD. Like what we all like to say 'What goes up must come down'. It's inevitable, but only when is the big question mark. Well all markets are in agreement another time. Will speculators be be more bearish on the USD this time?
Unfortunately Commitments of Traders reports have not been updated since December 18 due to the shutdown of the United States government. Nevertheless, change of DXY long positions was reported to have declined almost 25% between December 11 and 18. Now one month later the number of Long positions could very well be 0 by now, and shorts increased. It remains guessing...
Zlecenie aktywne
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USD devaluation about to start, get ready!
Komentarz
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This week's candle has some catching up to do. Hope you are ready ;)
Komentarz
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That bearish candle kicked me out but I re entered because I expect the underlying trend to prevail.
Komentarz
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That macroeconomic buying power of the hammer is still in there so I opened a new position.
Komentarz
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6 months later. Many signas today for another run.
Zlecenie aktywne
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This should be the correct entry. Halfway August, traditionally the month of UJ seasonality.
careful careful careful !!! the surging yields and the last RBA speech will totally kill your expectations ! we have not seen the top of usd, it will peak suddenly and strongly, if it must fall this is only after this devastating last peak that will take everybody breath away !
Deep-Peat-Shark
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@lapin_eliott, It was a nasty pullback indeed and kicked me out, nevertheless I feel confident about my analysis and reentered the trade.