These reversed so any rally is counter trend
Trends for DJI, EURUSD, USDSGD and USDCNH
This chart of Dow Jones Industrial Average was captured in weekly time frame. A series of lower highs and lower lows indicate that this index has already reversed and is on its way down. Current rally is a counter trend. Next expected pattern is a lower high which could show up anywhere in an increasing number of potential resistance levels.
DJI already reversed so any rally is counter trend | Source: Tradingview.com
USDCNH – USD weakens CNH strengthens
USDCNH reversed, CNH strengthening | Source: Tradingview.com
USDSGD – USD weakens SGD strengthens
USDSGD reversed, SGD strengthening
EURUSD – USD weakens EUR strengthens
USD weakening is not very obvious when we look at EURUSD candlestick chart using same scale as the ones above but when we zoom out using a line chart it is very clear USD is weakening too.
EURUSD already reversed, EUR strengthening
DJI reversed. USDCNH, USDSGD and EURUSD all reversed. For my own action according to these charts, I look forDJI resistance followed by forex pairs to short the USD. At this point it looks like 2019 will be a different year from 2018 (go opposite).
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
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