There's a serious problem with the dollar. It stopped acting as safe heaven.
Stocks are dropping and the the USD can't break the small reistances even.
22 days passed since the last intermediate bottom and the buck was not able to break the resistance at 96.17. Today we are rolling over again.
Now it looks like a long crawling on the 50 MA and we are going to tag it soon. This time I think we will break the 50 MA down.
Too many uncertainties which might weaken the dollar:
-US elections
- Trump's trade war uneffective with the strong dollar : sooner or later he will make
efforts to weaken it
- Falling Stocks: money flows into commodities instead of the dollar
- Chance for the rate hike in December is decreasing
(www.investing.com/ce...nks/fed-rate-monitor)
22 days passed since the last intermediate bottom and the buck was not able to break the resistance at 96.17. Today we are rolling over again.
Now it looks like a long crawling on the 50 MA and we are going to tag it soon. This time I think we will break the 50 MA down.
Too many uncertainties which might weaken the dollar:
-US elections
- Trump's trade war uneffective with the strong dollar : sooner or later he will make
efforts to weaken it
- Falling Stocks: money flows into commodities instead of the dollar
- Chance for the rate hike in December is decreasing
(www.investing.com/ce...nks/fed-rate-monitor)
Comment:
Topped out: