A late chart update here after calling the lows live in the room... The infamous ECB floor is showing signs of permanently raising higher, with USD devaluation entering into play via Fed we may see a sharp reversal triggered here with momentum.
Support for USD is starting to run out, with all roads leading to weakness the highs in DXY are likely set for a very long time. We are trading the very highs in the range on the monthly chart, it's crunch time.
Any trade deal may temporarily allow a rebound in trade to support manufacturing and ease capital outflows, thus softening the dollar. Sadly I think we are passed the point of no return, globalisation is showing signs of topping with Fed needing to push reserves higher.
Good luck.
Support for USD is starting to run out, with all roads leading to weakness the highs in DXY are likely set for a very long time. We are trading the very highs in the range on the monthly chart, it's crunch time.
Any trade deal may temporarily allow a rebound in trade to support manufacturing and ease capital outflows, thus softening the dollar. Sadly I think we are passed the point of no return, globalisation is showing signs of topping with Fed needing to push reserves higher.
Good luck.
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For transparency purposes ...
Trade active
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We are breaking!
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Momentum can trigger tomorrow with the European open
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A good time to update the EURJPY chart for those trading EUR strength in the crosses
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