Global USD value
Strength of USD versus currencies of EU, Japan, China, India, Russia, Mexico, Brasil, Saudi Arabia, Turkey, South Korea.
There had been a cosmic demand for dollar but as COVID hit USA from April 6 we saw a breakdown.
Now we are at major support, on the monthly balance point, from which a push up is likely but not guaranteed.
The area between CAMS1 and CAMR1 is regarded as neutral market.
A break above those levels will establish a bear or bull market.
Demark trendline needs to connect 2 corresponding TD N points. While here we see disproportion (bottom TD point is only N1) so I dont give much credence to that trendline.
If both USD and EUR will keep falling we will see a range on EURUSD.
The question is which one will fall faster. But now we see a pivot stop on USD fall but EUR is likely to keep falling on Monday as it is below April value zone.
Global EURO value index (see my previous post) started to exhibit great daily instability since early March (each days candle has long wigs either way).
I excluded CAD as its economy is much intercorporated with the US one and GBP, CHF being a EURO clones. But still inclusion of those doesnt change the picture much.
There had been a cosmic demand for dollar but as COVID hit USA from April 6 we saw a breakdown.
Now we are at major support, on the monthly balance point, from which a push up is likely but not guaranteed.
The area between CAMS1 and CAMR1 is regarded as neutral market.
A break above those levels will establish a bear or bull market.
Demark trendline needs to connect 2 corresponding TD N points. While here we see disproportion (bottom TD point is only N1) so I dont give much credence to that trendline.
If both USD and EUR will keep falling we will see a range on EURUSD.
The question is which one will fall faster. But now we see a pivot stop on USD fall but EUR is likely to keep falling on Monday as it is below April value zone.
Global EURO value index (see my previous post) started to exhibit great daily instability since early March (each days candle has long wigs either way).
I excluded CAD as its economy is much intercorporated with the US one and GBP, CHF being a EURO clones. But still inclusion of those doesnt change the picture much.