Two main events driving financal market this week is:
- Greece debt
- China stock market.
The risk event dominated market through the week, and economic data seem mute.
Traders around the world sell EUR and BUY USD vs beta currencies while BUY Yen cause of safe haven currency.
However, nearly those two problem are solved.
- Greece PM Tsipras agree all proposals of creditors and I think a deal will pass before the deadline.
- After using strong intervention method, The China stock BEAR is tamed.
Next week, there is no major US data, so we lack of necessary Fundamental momentum to drive USDollar , and this could lead a SELLOFF Dollar across the board.
- Technial Analysis
Look at on the chart, DXY reject the Kumo cloud and the .
DXY must struggle around this level to move higher, but seem it unsuccesses.
However, I still hope it could break the to resume the LONG position of DXY .