Postive divergence on the daily time frame for AUD and NZD against the USD suggest that there is
a trend change in progress. We have sufficient evidence to support this in looking at other
"risk on" assets such as the SnP500 and the Nasdaq as their monthly oscillators are oversold
and trying to generate a buy signal. These two hypothesis combined gives us enough evidence
that the markets have likely bottomed for now. The daily divergence is to be respected as it can
lead to strong moves lasting up to several weeks in trend continuation.
a trend change in progress. We have sufficient evidence to support this in looking at other
"risk on" assets such as the SnP500 and the Nasdaq as their monthly oscillators are oversold
and trying to generate a buy signal. These two hypothesis combined gives us enough evidence
that the markets have likely bottomed for now. The daily divergence is to be respected as it can
lead to strong moves lasting up to several weeks in trend continuation.