Buyers made a break for it early last week following a period of consolidation
Looking across the major charts, the move up is more to do with EUR weakness rather than dollar strength
Expect a continuation to the upside with the EURUSD and possibly USDCHF charts as the best ways to buy dollar
Should price break the August Swing High then look to target the Monthly R1 Pivot
Greenback reached 98 mark and is starting to show signs of resistance on 4hr TF. On one hand could break through and work its way back up to 98.93 which we saw two weeks ago- move could be supported with positive CPI data that's scheduled to be issues later today. On the other hand growing recession fears, as signaled by the US 2-year-10-year Treasury yield curve...
I am going long on Eur/Usd. I think eur/usd will break down to around 1.11684 then price will go up to around for 1.12800 area. With dxy dropping at a fast pace on Friday a pullback might come when the markets open which supports the idea of Eurusd going down a little before it goes up.
i see more weakness on dollar and fundamentals also showing more tensions with tariffs.
here from technical i see abc correction marked with sub waves, also eurusd have same reverse pattern.
on the chart in comments u can see the bigger full view on this.
like it so ull be notified for updates...
USDCAD Short bias; currently hovering around zone at which lies the following: FIB, R, Psycho. “Overbought conditions of 14 day relative strength index also favouring the pair’s latest pullback” -FXStreet. DXY support- “10-year US Treasury bond yield is losing more than 4% on a daily basis suggests that the DXY's correction is technical and is unlikely to gather...
#DXY tracking the price path highlighted last week, below 97.50 opens a move to the pivotal 96.00 decision point, failure here suggest medium term top in the US Dollar as per the analysis from our strategy sessions looking for a summer topping formation in the USD in line with historical Pre Presidential Year cycles
With the recent strengthening of the USD for various fundamental reasons that we discuss in depth with our clients, we have seen a sharp decline in the price of oil (not necessarily a sell-off - don't confuse the two!).
We expect the USD strength to continue into next week and so we are looking to short USOIL after this bearish corrective structure has now broken...