What a difference in a year! Around this time last year, the Euro was on its deathbed testing major support around $105.00. I published two charts on the subject this time last year. Who would have predicted this major uptrend looking at last years chart?
Euro 6-Year Weekly Bar Chart
Where is the bottom for the Euro in 2017? published January 8, 2017
Euro testing major support around 1.05 US dollar published December 8, 2016
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Reference the last chart analysis for the U.S. 10-Year Treasury Yield
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A long-term chart of the 10 Year Treasury Yield for 1962 to 2017
http://www.macrotrends.net/2016/10-year-treasury-bond-rate-yield-chart
From 1916 to early summer of 2016, the yields on 10 year U.S. treasury notes have varied widely, from a 100 year low in 2016, when the rate fell to less than 2 percent—1.71 percent in June of 2016—to a high for the same 100 year period of 14.59 percent in January 1982.
https://www.thebalance.com/historical-u-s-treasury-yield-charts-417126
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http://www.oilsandsmagazine.com/energy-statistics/oil-and-gas-prices
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Four -Year Chart for West Texas Intermediate
Reference my last chart for West Texas Intermediate when crude was about to test resistance at $60. The reversal of roles from resistance to support or support to resistance is an important concept in technical analysis.
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https://www.barrons.com/articles/another-big-ge-stock-buyer-centurylink-unit-1515524629
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I recommended and took a major position in Teck Resources on December 17, 2015 below $5.00
https://tradeonline.ca/2015/12/17/is-this-the-bottom-for-teck-resources/
https://www.teck.com/investors/
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The following chart is an update showing the break above 2.00%
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Major downtrend, intermediate downtrend and near-term downtrend for the U.S. dollar index. Why does this matter? One example is the inverse relationship with commodities which are priced is U.S. dollars. This is one factor for the near-term uptrend in the price of West Texas Intermediate (WTI) crude.
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