I showing the possibility of the Dollar losing a lot of value, so I made an analysis on DXY.
DXY is basically measuring dollar strength against the other currencies mostly EURO - 57%, YEN - 14%, GBP - 12%, CAD - 9% plus the other currencies.
The fundamental point of view is showing the potential delaying of announced tapering from the FED. The market was mainly pricing in the taper so the dollar was gaining value but now covid can strike again and tapering could be delayed. Jackson Hole summit is starting tomorrow, the event can bring a lot of volatility for the markets.
The technical point of view is that we made nice consolidation and all I am waiting for is the flag and continuous breakout that will happen if the price will form that way
Overall there could be nice setups not only in FX but also commodities, such as precious metals or grains can made nice impulse to the upside.
None of these is financial advice.
DXY is basically measuring dollar strength against the other currencies mostly EURO - 57%, YEN - 14%, GBP - 12%, CAD - 9% plus the other currencies.
The fundamental point of view is showing the potential delaying of announced tapering from the FED. The market was mainly pricing in the taper so the dollar was gaining value but now covid can strike again and tapering could be delayed. Jackson Hole summit is starting tomorrow, the event can bring a lot of volatility for the markets.
The technical point of view is that we made nice consolidation and all I am waiting for is the flag and continuous breakout that will happen if the price will form that way
Overall there could be nice setups not only in FX but also commodities, such as precious metals or grains can made nice impulse to the upside.
None of these is financial advice.