Looking at these pairs it would seem that all will retrace to previous higher or lower levels before the new direction resumes.
The dollar index could be forming a cup with a handle, so down to +/- the 92 - 92.5 area before the rally resumes and take off.
This could play out in the next week or two and bullish positions for the USD should be taken in the next month leading into the December FMOC where another rate hike is expected.
Should the UK not take an interest rate hike in November with added Brexit noise we will see the GBP heading down very fast before the FMOC
Further political "unease" in the EU (Germany, Italy etc) plus a increasingly dovish ECB will put the EURUSD under pressure.
All and all it seems like the stars are busy to align for the USD and it should end Quarter 4 very strong.
Alternative could be that things go even more pear shape for the $ with a break of the previous low towards 87 but I would think that this option is less likely
The dollar index could be forming a cup with a handle, so down to +/- the 92 - 92.5 area before the rally resumes and take off.
This could play out in the next week or two and bullish positions for the USD should be taken in the next month leading into the December FMOC where another rate hike is expected.
Should the UK not take an interest rate hike in November with added Brexit noise we will see the GBP heading down very fast before the FMOC
Further political "unease" in the EU (Germany, Italy etc) plus a increasingly dovish ECB will put the EURUSD under pressure.
All and all it seems like the stars are busy to align for the USD and it should end Quarter 4 very strong.
Alternative could be that things go even more pear shape for the $ with a break of the previous low towards 87 but I would think that this option is less likely