USDCHF has long since been a great canary in the coalmine for DXY (USD index). Today’s green candle is very similar to 11/30 (last day of Nov) so have to take it with a grain of salt. Keep watching USDCHF for signs of bottoming, that would be an early precursor of a dollar bottom, but any red candle on monday would negate any ST bottom potential.
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( 5-12-21): AUDCAD so far has clearly rejected at that upper purple TL resistance. However, like prior rejections price action has flushed all the way back to the BC before returning back up, so just because the 13MA did not hold it does not necessarily mean it cannot return back up to that TL. However, with that said…
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NEW GOLD vs TLT CHART: This ratio provides a birds-eye macro view of the commonly held relationship between Gold & US Treasury bonds (20YR+) ETF that over time has held within its key historical channel. Anytime this ratio has popped out of this key level either Gold was overpriced or TLT was underpriced.
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