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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • The modest recovery in the USD Index posted since the end of April has raised some questions about the USD's medium-term trend following a particularly weak month for the DXY. Following the near-term bounce, 2021's winning trading strategies are nearing the point of reversal.
  • The most profitable trading signals for 2021 so far are the MACD, all-in reversing Fear & Greed Indicator and the RSI. All three of these strategies appear on the cusp of closing out their short USD signals to switch to either neutral or USD buy signals.
  • For the MACD strategy, the MACD line crossed above the signal line at the beginning of this month, which will trigger a buy signal in the coming few sessions.
  • Similarly, for the Fear & Greed strategy, the F&G signal will soon flip above 0, flagging to cover and go long the USD Index.
  • This may make Friday's Nonfarm Payrolls report even more crucial not just for policy and fundamentals, but also on technical model basis.