Francesc Riverola,Hi everyone
Let’s welcome David Solin, partner at Foreign Exchange Analytics (www.fxan.com) view this time about USD Index.
David Solin - $ index, above the Nov high but don\’t chase….
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Hi everyone, let’s welcome as always David Solin’s view, this time about USD Index
$ index, more chop higher nearby but upside limited….
Francesc
AUDUSD, still targeting new lows… by David Solin, Partner at Foreign Exchange Analytics
Aussie continues to chop within the .6005/.7010 that has been in place since late Oct. With no signs that a more important bottom is in place “pattern-wise” (5 waves up on the short term charts for example), suggests that the last month of trade is a large correction/ consolidation and with eventual new lows after. Note too the 5 wave fall from the .7010 high (see shorter term chart at www.fxa.com/solin/comments.htm ) also suggests that the bigger picture downside is not “complete”, and adds weight to the view of eventual new lows below .6005. For now want to be short for the bullish trendline from Oct 27th (currently at .6075/85), .6005 and below, and would reshort here (currently at .6425).
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Oil, important low close-but not quite there…. by David Solin, Partner at Foreign Exchange Analytics
Francesc
$ index, short term downside but no important top…. by David Solin, Partner at Foreign Exchange Analytics