U.S. equities rallied again today, pushing to multi-week highs. The dollar pushed higher and we saw gold fall again. As a result, we can determine that we are not seeing fears of inflation and we are seeing lower volatility. We could see a return to the equity market highs by the end of the year.
The EUR/USD pushed lower today and then pulled back to end the day pretty flat for the day. We still could get a bump higher and a chance to sell near 1.28 but we will patiently wait for the bounce.
(see EUR/USD below)
The GBP/NZD rallied and broke through resistance. Our remaining one contract has been pushed higher into profitability. We are watching for price to hit our target. We have tightened our stop and moved our target limit price in slightly.
(see GBP/NZD below)
The AUD/CAD is rolling over at resistance. With falling gold prices and rising oil prices, this does not come as a surprise. We are looking for price to fall back to horizontal support for a bullish entry.
(see AUD/CAD below)