This is the first post on my personal site here. My goal is to share my take on the markets for the day, and hopefully, create a discord. I will mainly concentrate on the currency markets as they respond directly to macro-trends that are in play at any given time.
Currently, I am closely following the USD related pairs, such as EURUSD, USDCAD, USDAUD etc. I believe that there are some major long term trades shaping up that should generate some serious profits. Sentiment on the USD is at its extreme on the bearish side, especially against the EUR. Things are about to reverse in my opinion.
The EURUSD daily chart above shows that the RSI is diverging, indicating possible price reversal. Once the trend line is broken, currently at around 1.17 level, I will have a lot more conviction in the reversal.
Another macro move I am following closely is the Gold and the precious metal complex in general. Gold has broken out of the nine-year-long consolidation and has started a new bull phase. It is now consolidating at near all-time highs. See the monthly chart below. On any pullbacks, I am adding to my long-term positions.
That’s ll for now… I will be back tomorrow with more thoughts.