DXY & CNH

by Ashraf Laidi

Dec 6, 2022 14:34

We know the DXY is highly correlated with USD/CNH so if the Head-&-Shoulder on USD/CNH formation proves valid, then further USD downside lies ahead.

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DXY & CNH - Cnh Dxy Dec 6 2022 (Chart 1)

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Mar 17, 2023 21:28 | by Ashraf Laidi
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Dax 200 MA Extension

Jan 11, 2023 10:57 | by Ashraf Laidi
If the DAX40 maintains its habit of extending 13% above its 200 DMA, then current upside may extend to as high as 15300, just below the 76% retracement of the decline from the Jan 2022 high to...

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twitter.com/alaidi

@michogold @XM_COM Thanks Michel for participating. بالتوفيق اايوم مع بيان الوظائف (yesterday)
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق https://t.co/Y7tD0RyaHA @XM_COM (2 days ago)
@Rinsura1 ugly weekly candles in yields (2 days ago)
#BankCredit vs #LabourMarkets. Both competing whom shall singlehandedly hang the longest from the bar. (2 days ago)
@piptrain but on the bright side, we held the Oct trendline (3 days ago)
Gold shrugging JOLTS and going w/ Chicago PMI (3 days ago)
we all know the high pstv correlation btwn Chicago PMI and Manuf USM or napm as it used to be called (3 days ago)
US-JPN 10yr vs #USDJPY: Who's wagging whose tail? find out below https://t.co/ORmIfTeADr #forex $TNX #XAUUSD $GLD (4 days ago)
#JPY finally playing along w/ yields. Ystrdy's holiday signal helped. More work is needed. #JOLTS will be key tomo… https://t.co/Z4MA3vaMAf (4 days ago)
Year-to-date Performance https://t.co/cFkT3gxC6L #forex #XAUUSD $TSL $SPX #NDX #NASDAQ $AAPL #Litecoin #bitcoin… https://t.co/mTo3aAxU5o (5 days ago)

Latest IMT - May 30

Yen Tracking Yield Spreads again?

During yesterday's sleepy markets, I highlighted in this tweet the rally in bund futures (rising prices, falling yields) may signal similar price action at the subsequent session, when US bond yields/prices return from Memorial Day Weekend. Today's bond price action did not disappoint, as the homogenous asset class moved in concert, delivering gap ups in prices and falling yields. This was a desperately needed development for yen bulls (particularly USDJPY shorts). Interpret what you wish from the chart below as to which is the dependent and independent variable (USDJPY or yield spread). Who leads whom? Shorting USDJPY has been the "pain trade" for our WhatsApp Broadcast Group, as we await Wednesday's debt ceiling vote and the JOLTs survey. Hanging in there.

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DXY & CNH

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