Daily Update

As noted in weekly post, cycles continue to do their job and bring the anticipated price action. News and media can come up with any story explaining the action there after.

Hourly and 4-Hourly trend level moves to <SP_HT1> and <SP_4HT1> respectively.

Bounce was very weak. No decent move even past the previous hourly trend level.

Cycles continue to be down - till <SP_Day_Hour> (hourly) and <SP_D1> (daily).

For downtrend to continue further a break below weekly trend level at <SP_WT1> is required. Similarly, VIX needs to clear overhead resistance of <VIX_R1> and march towards <VIX_R2>.

S&P Futures Daily Chart - 05/30/2019

For US Dollar, while the weekly cycles peak by <DXY_W1>, medium term daily peaks by <DXY_D1>.

For US Dollar to really continue uptrend, it has to decisively clear the overhead resistance at <DXY_R1> and march towards <DXY_R2>.

Hourly and 4-Hourly trend level (in futures) moves to 98.0471, 97.7692 and need to be held to continue uptrend. Daily trend level is at <DXY_DT1>.

Similarly, for EURUSD, Hourly and 4-Hourly trend level moves to 1.1135 and 1.1173. Daily trend level is at <EURO_DT1>. For downtrend to continue, need a break below <EURO_S1> and march down to <EURO_S2>.