A quick bounce or break will send to 0.82
Technicals:
20month + consolidation of the pair ranging from 1.00 to 0.93 - now the price has broken the distribution
Weekly demand zone - however, the demand has previous touches this is the so the chances of a breakthrough from the strong safehaven of the CHF is a likelihood.
Looking at the VIX - we can see this increasing by a large amount first targets are 40.00
DXY the dollar is weakening to a 95.2 lows - however the buying of this at the lows will produce huge rewards - the lows of 82 are to be tested.
Looking at Russell and SPY has the gap to fill to $340.00 per share , is this sustainable growth which is being propped up - with earnings quarter now in play, we will see those numbers finally provide profit targets either severely missed or the few will beat earnings .
Nasdaq monthly close will be a bearish hammer unless bulls keep the 10,600 supply intact.
Price can bounce - but look for sells
Date Long Short Net Change in positions
14/07/2020 16,526 9,469 25,995 64% 36% 7,057 3,279
07/07/2020 12,832 9,054 21,886 59% 41% 3,778 -560
30/06/2020 12,796 8,458 21,254 60% 40% 4,338 2,890
23/06/2020 11,739 10,291 22,030 53% 47% 1,448 -158
16/06/2020 9,150 7,544 16,694 55% 45% 1,606 -160
09/06/2020 10,463 8,697 19,160 55% 45% 1,766 -7,223
Technicals:
20month + consolidation of the pair ranging from 1.00 to 0.93 - now the price has broken the distribution
Weekly demand zone - however, the demand has previous touches this is the so the chances of a breakthrough from the strong safehaven of the CHF is a likelihood.
Looking at the VIX - we can see this increasing by a large amount first targets are 40.00
DXY the dollar is weakening to a 95.2 lows - however the buying of this at the lows will produce huge rewards - the lows of 82 are to be tested.
Looking at Russell and SPY has the gap to fill to $340.00 per share , is this sustainable growth which is being propped up - with earnings quarter now in play, we will see those numbers finally provide profit targets either severely missed or the few will beat earnings .
Nasdaq monthly close will be a bearish hammer unless bulls keep the 10,600 supply intact.
Price can bounce - but look for sells
Date Long Short Net Change in positions
14/07/2020 16,526 9,469 25,995 64% 36% 7,057 3,279
07/07/2020 12,832 9,054 21,886 59% 41% 3,778 -560
30/06/2020 12,796 8,458 21,254 60% 40% 4,338 2,890
23/06/2020 11,739 10,291 22,030 53% 47% 1,448 -158
16/06/2020 9,150 7,544 16,694 55% 45% 1,606 -160
09/06/2020 10,463 8,697 19,160 55% 45% 1,766 -7,223
