The extended move in currencies has again triggered signals in all 4 of our currency components. This happened before only recently but remains very rare, possibly an indication of just how strongly correlated markets currently are. Here are the new signals, we will enter them all at Sunday night’s open:-
Long Dollar ($DX_F) 7/8 +$0.00 per contract
The dollar has now firmly established a new uptrend with today’s rally taking out the daily and weekly closing highs of mid-May.
Short Japanese Yen ($6J_F) 7/8 +$0.00 per contract
After a brief consolidation the Yen renewed it’s intermediate downtrend, closing at a six-week low.
Short Euro ($6E_F) 7/8 +$0.00 per contract
The Euro still has some support levels just below here but on a weekly chart just took out an ascending trendline from the November lows.
Short Sterling ($6B_F) 7/8 +$0.00 per contract
Sterling has seen a rapid slide following the market’s take on the no-nonsense approach from new BOE Governor Carney, making the whole March-June move look like one large countertrend. Friday’s marginal close below the March low puts us at 3 year lows.
Our existing positions are as follows:-
Short S&P 500 ($ES_F) 6/21 -$2,250.00 per contract
Short NASDAQ ($NQ_F) 6/21 -$1,645.00 per contract
Short 30yr ($ZB_F) 5/13 +$11,562.50 per contract
Short 10yr ($ZN_F) 5/13 +$6,484.375 per contract
Long Crude Oil ($CL_F) 7/5 +$2,540.00 per contract
Short Gold ($GC_F) 4/5 +$33,160.00 per contract