Highlights and themes
- The US Dollar still has the Sequential Countdown pending on day 11 of 13 while there is a Combo buy Countdown 13 and buy Setup 9. Dollar sentiment remains under pressure but off moderate oversold levels.
- The Dollar is in downside wave 5 of 5 as are Euro and British Pound Sterling – as those have upside exhaustion signals developing.
- Japanese Yen bounce with a recent buy Setup 9
- Crypto saw a strong bounce with Bitcoin and might qualify the Sell Setup 9 today while Ethereum has not seen much of a bounce. I am wondering if ETH days and popularity are over.
Comments on charts. If you have questions or would like more context, please email.
Currency Sentiment Overview
Currency sentiment highlights
US Dollar Indexes
DXY US Dollar Index daily with recent DeMark Combo 13, Aggressive Sequential 13 (amber) and Sequential pending on day 11 of 13 and buy Setup 9. I’d like to see the Sequential 13 this week and price reversal above 100 to turn momentum up.
DXY US Dollar Index weekly couldn’t hold or bounce with the recent Setup 9 at the 200 day. It’s slightly below the TDST and has a Sequential pending on week 3 of 13.
Bloomberg US Dollar Index daily similar to DXY with Combo 13’s (several versions) and Sequential pending on day 11 of 13
US Dollar bullish sentiment bounced off moderately oversold levels but remains under pressure.
Major USD Crosses
EURUSD Euro / US Dollar with recent Combo and Aggressive Sequential 13’s and sell Setup 9. The Sequential remains on day 11 of 13 like the DXY index in wave 5 of 5 too.
Euro bullish sentiment reversed off the extreme zone.
GBPUSD British Pound Sterling / US Dollar in upside wave 5 with new DeMark Sequential, Aggressive Sequential, Combo 13’s and sell Setup 9. This could be topping soon
British Pound Sterling bullish sentiment reversed below the extreme zone this week
AUDUSD Australian Dollar / US Dollar after a sharp drop it’s right back up near recent highs
Australian Dollar bullish sentiment with strong recent move near the elevated zone.
USDCAD US Dollar / Canadian Dollar with a 9-13-9 pattern and reversal with new Combo 13.
Canadian Dollar bullish sentiment at 1 year highs.
USDCHF US Dollar / Swiss Franc has been extended with 9-13-9 pattern and reversal
Swiss Franc bullish sentiment reached a new high and backed off.
USDJPY Japanese Yen daily has seen inflection with recent Setup 9’s
Japanese Yen bullish sentiment backed off and remains still relatively elevated.
Crypto
Bitcoin daily has a sell Setup 9 today which will need to close above the 5th green bar close of 93,730. It’s very close and the Setup might not qualify at 5pm ET today.
Bitcoin bullish sentiment with strong bounce nearly into the elevated zone again
Ethereum with slight turn at the 50 day for the first time in 5 months
Three major Yen crosses
EURJPY Euro / Japanese Yen at the top end of recent range. A Sequential in progress on day 7 of 13 and Setup on day 5 of 9.
GBPJPY British Pound Sterling / Japanese Yen have been range bound with Setup 9’s at some inflection points.
AUDJPY Australian Dollar / Japanese Yen with recent Combo 13 on low with new Sequential 13 not on low which I would prefer but it did qualify which is more important
US Dollar vs Emerging Markets
USDBRL US Dollar / Brazilian Real back to the recent lows
USDMXN US Dollar / Mexican Peso with Sequential pending on day 11 of 13
Mexican Peso bullish sentiment continued bounce
USDZAR US Dollar / South African Rand with buy Setup 9 but not a great looking start with Friday’s neg reversal.
USDCNH US Dollar / Chinese Offshore Renminbi (Yuan) quiet and back to range
DeMark Sequential Basics from Bloomberg
