/DX ($USD futures) was rejected off the 97.585 resistance & heading down to the 97.017ish support within the rising wedge pattern following the divergent high.
DX 60m June 19th
Likewise, /E7 (Euro futures) has rallied up to the first resistance (1.1271) after this test of the 1.1209 support yesterday. Just as /DX is in a bearish rising wedge, pattern, /E7 appears to be forming a bullish falling wedge pattern.
E7 60m June 19th
This morning’s drop in the $USD/pop in the Euro was the catalyst for a rally in /GC gold up to the downtrend line with a buy signal still to come on a solid break above it. Resistance is resistance until & unless taken out so watch for a break of the minor uptrend line (support) just below, should /GC get rejected off this test of the downtrend line.
GC 60m June 19th
Today’s drop in the $USD/pop in the Euro also sparked a rally in /SI silver that has taken it to the downtrend line with a buy signal to come on a solid break above it. Chances are that we’ll get at least a minor reaction here as both gold & silver have rallied into trendline resistance but as for now, the near-term bullish case for both has firmed up since yesterday due to the aforementioned developments on both the precious metals & the major currencies.
SI 60m June 19th