USD Update
The #USD (UUP)has moved above my dotted red horizontal line today after closing above its 10ma & 50ma yesterday on its Daily chart so we have a higher low and now a higher high in place. As long as the USD is bouncing, #Gold #Silver #GDX will face a stiff headwind, IMO. pic.twitter.com/PWyxQ3uQZm
— Surf City (@SurfCity_Cycles) October 29, 2020
TA is great for the much much awaited bounce in USDX … but how delayed and how little a bounce, this is?
With the 10-year yield now rising to 0.816 % today, that’s SIXTY percent higher in 12 weeks, wow!
Who wants higher yields? Who wants a stronger USDX?
Soon the correction in S&P will be 10% from the 52-wk high … how long will “they” play the game of not announcing a new stimulus? God forbid, if Trump loses, will any stimulus pass?
Mayhem unlike any other is about to be unleashed.
All things point to a sudden reversal downward in USDX … yes, this is not TA, but more gut feel
GL
I totally agree that the USD is headed much lower longer-term (88 sometime next year) but I dont see any Stimulus passing before the US Election. I could be wrong but that is my read.