The US Dollar was grasping at support at the start of this webinar but that's been a more regular occurrence of late. Notably, bears have had a wide open door to push a breakdown in the greenback but, as yet, they haven't been able to make the push.
USD-weakness remains attractive in pairs like GBP/USD and AUD/USD, both of which have set recent fresh yearly highs. But that's a bit more suspect in a market like EUR/USD which has, so far, held inside of the 2024 high which remains inside of the 2023 high. And given the 57.6% allocation of the Euro in the DXY basket, that's pertinent to the US Dollar.
Meanwhile Gold continues to rip, as I've been following in videos and articles of late. In the webinar I looked at context for pullbacks while focusing on a few levels of interest. I also extrapolated on why I'm avoiding chasing there as gold is currently showing overbought readings on the daily, weekly and monthly chart.
I finished the session with a look at equities via SPX and NDX. Time stamps for each section are below:
Time Stamps:
00:00 - Introduction
3:02 - Preview of Session, USD Support, Gold Breakout
5:35 - USD, US Dollar
10:49 - USD/JPY
19:53 - Spot Gold
29:40 - EUR/USD
39:35 - GBP/USD
42:45 - AUD/USD
47:10 - S&P 500
51:20 - Nasdaq 100 Futures
53:30 - SPX, NDX Forecasts into End of Year
James Stanley's video playlist:
Price Action Webinar Archive Playlist-
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