Dollar weakness has been a relief for sore eyes 👀.
Why?
Well Dollar weakness usually comes with the rise of all other correlated pairs alongside t the equities market, as we have seen since yesterday Tuesday July 11 are aiming at new Highs.
Expectations are for Dollar to reach the target of $99.5522
It is showing a very strong selling pressure and we will take a look again at this price to see some sort of reaction.
The Dollar has decisively broken thru the $100.44 mark while everyone else was expecting a bounce.
It is possible to see Dollar reach $97.22 before months end were I have placed the yellow line to indicate what I consider a weekly price target for Dollar.
While many are still expecting to see Dollar return or bounce back to $101.55 at least this will not occur until you start seeing a weakening of the downside push.
Why?
Well Dollar weakness usually comes with the rise of all other correlated pairs alongside t the equities market, as we have seen since yesterday Tuesday July 11 are aiming at new Highs.
Expectations are for Dollar to reach the target of $99.5522
It is showing a very strong selling pressure and we will take a look again at this price to see some sort of reaction.
The Dollar has decisively broken thru the $100.44 mark while everyone else was expecting a bounce.
It is possible to see Dollar reach $97.22 before months end were I have placed the yellow line to indicate what I consider a weekly price target for Dollar.
While many are still expecting to see Dollar return or bounce back to $101.55 at least this will not occur until you start seeing a weakening of the downside push.
Comment:
Getting close to our target
Trade closed: target reached