HELLO ALL,
MY VIEW ON DXY IS BEARISH. I BELIEVE STRONG SUPPORT AT 98.25 WHICH WAS TOUCHED ON 29 MARCH WILL BE BROKEN AFTER A SMALL RETRACE FROM CURRENT LEVEL. 4HR TREND LINE WAS BROKEN DOWNWARD ON 19 MAY AND ALMOST TOUCHED ON 25TH MAY WHERE IT FORMED A POSSIBLE LH AND HAS GONE DOWN FORMING ANOTHER POSSIBLE LH WITH A LL ON 4HR CHART. DAILY IS STILL WITHIN WHAT LOOKS TO BE A SIDEWAYS CHANNEL, WHICH I BELIEVE WILL BE BROKEN.
USA/CHINA TENSIONS CONTINUE TO FLARE, BUT I JUST DON'T THINK IT WILL MAKE DXY FLY. INSTEAD I THINK IT WILL MAKE DXY FALL SLOWLY WITHIN THE NEXT WEEKS AND MONTHS.
"US stocks should continue their painstaking climb up a treacherous wall of geopolitical uncertainty, supported by unlimited stimulus and as investors rotate back into value stocks. The US economy continues to benefit from reopening momentum, but a big part of this week’s rally is a big rotation into reopening stocks. If this stock market recovery mirrors 2009 or 2000, we could see many people jump back into the most beaten-down stocks. The dollar is getting picked on today as risk appetite remains in place. Deteriorating US-China relations should prevent the dollar from completely getting hammered over the coming months." (OANDA) (ED MOYA SENIOR MARKET ANALYST) OPINION!
"The headlines coming out of the world’s two largest economies are not putting much of a dent into the stock market rally. China is determined to strengthen their hold on everything and have not backed down with their controversial national security law for Hong Kong. US Secretary of State Pompeo’s comment that the US could no longer certify Hong Kong autonomy from China, raises expectations that Hong Kong could eventually lose their special trading status. It seems unlikely that the US will continue to go that route as Hong Kong is a major business hub and home for hundreds of US businesses. The US seems to be positioning, possibly giving China a chance to clarify or tweak their intentions for Hong Kong. The impact on global equities is limited for now as this still seems to be a regional story and that the US and China seem set to hold up their respective parts of the phase-one trade deal. A western coalition against China seems likely but that could take months to really take form. The situation in Hong Kong will eventually weigh on financial markets, but for now the impact is limited." (OANDA) (ED MOYA SENIOR MARKET ANALYST) OPINON!
www.marketpulse.com/...a-report-gold-rises/
IF YOU LIKE PLEASE GIVE A THUMBS UP AND ALSO COMMENT YOUR OPINIONS AND IDEAS, THANK YOU!
MY VIEW ON DXY IS BEARISH. I BELIEVE STRONG SUPPORT AT 98.25 WHICH WAS TOUCHED ON 29 MARCH WILL BE BROKEN AFTER A SMALL RETRACE FROM CURRENT LEVEL. 4HR TREND LINE WAS BROKEN DOWNWARD ON 19 MAY AND ALMOST TOUCHED ON 25TH MAY WHERE IT FORMED A POSSIBLE LH AND HAS GONE DOWN FORMING ANOTHER POSSIBLE LH WITH A LL ON 4HR CHART. DAILY IS STILL WITHIN WHAT LOOKS TO BE A SIDEWAYS CHANNEL, WHICH I BELIEVE WILL BE BROKEN.
USA/CHINA TENSIONS CONTINUE TO FLARE, BUT I JUST DON'T THINK IT WILL MAKE DXY FLY. INSTEAD I THINK IT WILL MAKE DXY FALL SLOWLY WITHIN THE NEXT WEEKS AND MONTHS.
"US stocks should continue their painstaking climb up a treacherous wall of geopolitical uncertainty, supported by unlimited stimulus and as investors rotate back into value stocks. The US economy continues to benefit from reopening momentum, but a big part of this week’s rally is a big rotation into reopening stocks. If this stock market recovery mirrors 2009 or 2000, we could see many people jump back into the most beaten-down stocks. The dollar is getting picked on today as risk appetite remains in place. Deteriorating US-China relations should prevent the dollar from completely getting hammered over the coming months." (OANDA) (ED MOYA SENIOR MARKET ANALYST) OPINION!
"The headlines coming out of the world’s two largest economies are not putting much of a dent into the stock market rally. China is determined to strengthen their hold on everything and have not backed down with their controversial national security law for Hong Kong. US Secretary of State Pompeo’s comment that the US could no longer certify Hong Kong autonomy from China, raises expectations that Hong Kong could eventually lose their special trading status. It seems unlikely that the US will continue to go that route as Hong Kong is a major business hub and home for hundreds of US businesses. The US seems to be positioning, possibly giving China a chance to clarify or tweak their intentions for Hong Kong. The impact on global equities is limited for now as this still seems to be a regional story and that the US and China seem set to hold up their respective parts of the phase-one trade deal. A western coalition against China seems likely but that could take months to really take form. The situation in Hong Kong will eventually weigh on financial markets, but for now the impact is limited." (OANDA) (ED MOYA SENIOR MARKET ANALYST) OPINON!
www.marketpulse.com/...a-report-gold-rises/
IF YOU LIKE PLEASE GIVE A THUMBS UP AND ALSO COMMENT YOUR OPINIONS AND IDEAS, THANK YOU!
Comment:
KEEP AN EYE ON DXY, WENT LOWER ON THE DAILY AND BROKE THAT 98.25 AREA, FALSE BREAK OUT TOO LOWS OR NEW BEARISH TREND?
