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.
USDCNH – USD weakens CNH strengthens
USDSGD – USD weakens SGD strengthens
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.
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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