Dear friends,
Here is what I think for most of the pairs for the coming week. Have a great trading week.
AUD
• AUDCAD on Monthly broke the support last month. On Daily nice pullback off the EMAs and resistance. I would go Short with and order pending at the low on 15min chart to Short
ACTION: SELL
• AUDNZD is a good Long. But on 15 min it is bearish now however...
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...
Price is forming new higher highs and higher lows. I would favour price moving to the upside and either breaking through the neck line of a head and shoulder formation or a push to the downside off of this level.
Daily updates will be made.
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...
Disclaimer: I am a new unexperienced trader(first chart) therefore take everything with a pinch of salt.
Having looked at fed interest rates I believe that markets are expecting another rate cut(s) which are currently being priced in. Having looked at interest rates for the past 5 years expect more cuts too until 1.75-1.5. Looking at the monthly chart around...
Heads up on the DXY- Interesting inflection point. Watch for a Trend Line break or broader support to give some directional bias on trades with the other majors.
#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
Dollar Index - Weekly chart - After patiently waiting ( for monthss!!) for dollar index to rally into the weekly supply zone for a reversal, we have now reached this point and can anticipate a share reversal/decline for dollar in the coming weeks to months.
The U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies. (DXY) originally was developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies. U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies. The following six currencies are used to calculate the index:
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DXY (Derived Data)
