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Chart of the Day – DXY – (October 23rd 2019)

The DXY recently came out of an ascending wedge that had developed for the last couple years. Currently, we have a bear flag setting up which points below the 97.00 level.

Chart of the Day – EURUSD – (October 17th 2019)

The EURUSD closed at the downtrend line of the descending wedge that has captured the low volatility of the pair for the last couple years. Today, we tested that resistance near the 1.1140 level.

Chart of the Day – USDJPY – (October 2nd 2019)

The big rejection at the 108.50 level came following the very poor ISM Manufacturing data yesterday as the pair slid into key support today at the 107.00 level.

Chart of the Day – DXY – (October 1st 2019)

An ascending wedge is a bearish setup by definition. However, the instrument is not actually bearish until we break the lower trend line of the wedge.

Chart of the Day – DXY – (July 1st 2019)

The DXY has rallied to the underside of the trend line but also back above the 200dma which does muddy the picture.

Gold is breaking out

Gold breaks higher after 6 years of consolidation

Gold finally broke out higher from multi-year resistance, and that has certainly caught the market’s attention. Attempts have been made to explain this move, but what are really the factors that move Gold – both in the short term as well as the long term?

Chart of the Day -EURJPY- (May 9th 2019)

Alongside the bear flag competing when the pair traded below the 123.00 level a pin bar was posted which could signal a near term bounce in the pair.