We were given the go ahead by price action on our DXY targets today. This puts us in a very nice position to treat the target like a magnet also as US Economic Optimism bounced back up since the initial Covid era lows.
The Dollar Index pushed higher towards our target. Today’s price action gives us confidence in our magnetic target of 97.805.
EURUSD was released to drop today so we are heading for our target that we have been mentioning at the ( members only ).
GBPUSD moved lower, today and should continue down further tomorrow. We will be taking our partial profit at ( members only ). Then expect more bears to keep piling in.
AUDNZD reached the level we identified with the consolidation on AUDUSD. So we will be monitoring AUDUSD to see what will unfold going forward!
NZDUSD moved out from the consolidation and is heading lower as we were expecting. We currently don’t have any position on this. But expect it to drop to the ( members only ) zone.
Today price for EURGBP went lower to take out a swing low on the daily timeframe and its already rejecting so we have confidence that price might move into our target area. We will monitor tomorrow for an entry, targeting the ( members only ) range.
In USOIL price took out previous week high and that might cause price to drop down again. Let see what price will do during the London tomorrow for a sell idea.
GOLD is still in consolidation so we will be monitoring for a sell. Usually GOLD forms a low in mid December and moves higher into February. We will look for a buy if price shows us that is moving in that direction. Until then we still remain bearish.
For Crypto, BTC is in a retracement on the daily time frame. We are still bearish so we will look for a continuation to the downside. For now we should see price reach up to ( members only ), so short term longs are allowed.
We will report any updates or directional biases in tomorrows daily blog. Stay tuned for CPI data on Friday.
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