With the US being the only nation that as a promise for rate hikes, and as it comes near (possibly December 2016), prudent traders will begin to align themselves with the bigger forces out there.
Technically, the market has pull back to monthly support and bounced off of it, and it looks like wave 5 could be starting now.
On top of that, the counter trendline has broken. This month is green so far. as long as the data for the US continues to be bullish, I will remain confident in holding it long for quarter 4.
Going to bed. Goodnight.
Technically, the market has pull back to monthly support and bounced off of it, and it looks like wave 5 could be starting now.
On top of that, the counter trendline has broken. This month is green so far. as long as the data for the US continues to be bullish, I will remain confident in holding it long for quarter 4.
Going to bed. Goodnight.
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Another view using volume from the equity markets in "UUP," an etf for the dollar index. Hmm! It does confirm the though that we are approaching a new chapter and a new horizon for the US Dollar.
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US Core Retail Sales m/m up 0.5% compared to -0.1% last time, and +0.1% above the forecast.
US PPI m/m up 0.3% compared to 0% last time, and better than the 0.2% forecast
The core PPI similar.
Awesome! ..now Yellen speaks today.
US PPI m/m up 0.3% compared to 0% last time, and better than the 0.2% forecast
The core PPI similar.
Awesome! ..now Yellen speaks today.
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"More than 80% of economists surveyed anticipate rate rise at the last meeting of 2016" - Wall Street Journal www.wsj.com/articles...-december-1476367202
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Dollar pullback....can't go up in straight line...
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There is no reason to fret the dollar. Join the trend! Zoom out to a higher time frame:
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
