The Godfather of Trading... EU. Analysing across DXY and the USD in general, I can picture a bearish week for the Dollar ahead, given the last 2 weeks have been showing consistent bullish pressure, I think this week the bulls will run out of steam. DXY may be heading back to 92.000 or lower. I think DXY crashing, will provide the bullish momentum that EU was...
EU About Time for rise - it Will be A long Journey no doubt! but 1.10 Cometh
DAX is now down 15% as China doesn't matter" the aforesaid devaluation began with most European crawling down 3-5% from Friday's closing as the day started off with an awesome bounce only to test a brand new lows. EURUSD is now up over 550 pips in 4 days calculating back to 7 month highs. European bond risk is now surging couple with Portugal uping over 490bps...
The US dollar has been under MIGHTY pressure from other well known currencies, mostly due to the enormous dovish minutes - but EU is ruling now - I notice a breakout above 1.1216 which resolve a super duper complex head & shoulders bottom. Above 1.1216 -this exposes the June high at 1.1436,” - EU hitting 1.13+ can never be ignored if the market condition...