Chart Of The Day series – 9 January 2023
The USDCNH reversed lower last October and rode the USD weakness. Early December we broke through a H&S formation pattern and after a S/T consolidation we seem to be resuming the downside.
The DXY had a strong day to start the year and it is threatening with a break higher after a 3 month move lower.
Following the FED, gold initially stalled and then turned lower from the ascending wedge’s T/L resistance and is about to break down from here.
The 10Y Us Yields have been pulling back since toping back in October at 4.33% but are they about to rebound from current levels?
Crude oil closed last week at a key confluence of supports ~$77, while completing a double top target.
Gold is testing the key confluence of resistances at $1680.