It seems the dollar never wants to break down the trendline.
It's crawling on the trendline for more than a month now. The continuous money printing of the central banks makes it possible for the dollar to be held above the trendline. The more crawling we see the bigger correction we will have in October.
I make the call: by the close of next week Friday we will see sub 94 dollar price.
This vehicle is simply running out of time and the 200 SMA is preventing every pop to go above 96.
...and you never know when the FED says enough is enough and throws some buck on the market before the elections.
It's crawling on the trendline for more than a month now. The continuous money printing of the central banks makes it possible for the dollar to be held above the trendline. The more crawling we see the bigger correction we will have in October.
I make the call: by the close of next week Friday we will see sub 94 dollar price.
This vehicle is simply running out of time and the 200 SMA is preventing every pop to go above 96.
...and you never know when the FED says enough is enough and throws some buck on the market before the elections.
Comment:
Price is between the triangle of the 200 SMA and the lower trendline since MAy.
It will break this week. My bets are on the breakdown of this pattern...
It will break this week. My bets are on the breakdown of this pattern...
Comment:
GBP collapsed last night.
That caused the opening gap in the DXY. Gold was not falling too much though.
That caused the opening gap in the DXY. Gold was not falling too much though.
Comment:
Ignore the text in the indicator box.
We have a heavy weight seller at the 200 SMA- I wouldn't be surprised if it was the FED...