People buy USD as Comey tension eases and focus shifts to FOMC
The Harmonic Support Zone I mentioned in this week's newsletter.
Comey's tension eases, the GBPUSD is crashing down following the UK elections (1.3 was also a resistance zone I mentioned in this week's newsletter) and Investors are starting to buy again with expectations for another rate hike next week.
DXY is up and back above 97$
The final target zone of this potential bullish scenario is the 200 days MA line and the re-test of the broken trend line.
More updates in next week's newsletter
Comey's tension eases, the GBPUSD is crashing down following the UK elections (1.3 was also a resistance zone I mentioned in this week's newsletter) and Investors are starting to buy again with expectations for another rate hike next week.
DXY is up and back above 97$
The final target zone of this potential bullish scenario is the 200 days MA line and the re-test of the broken trend line.
More updates in next week's newsletter
Comment:
That's a bullish sign
Now focus shifts to the Fed.
Will it reach 98-99$ again?
Bullish setup on GLD suggests it may not.