I am more and more confused, US Treasury rates continue to go up and the FED is accelerating tightening.
The market on the other hand did already price in 3 to 4 rate hikes for this year. And yet, USD still is weakening across the board.
EURUSD showed a 'fake? breakout' over the 1.14 level and formed a HTF bearish flag pattern but seems to struggle to form a bearish continuation pattern around the 1.133 level.
USDCAD is trading below 1.25, the recent rise in Oil prices surely helped the CAD; and more and more tensions in the Gulf area and the Ukraine could help to push the pair lower.
USDJPY came down almost 300 pips from it's recent high and is now trapped in a HTF bear flag, which could potentially form an expanding structure.
GBPUSD made peak outside the HTF downtrend, fell back into it and is now struggling to form a bearish continuation pattern. It even looks like it is forming an upward reversal.
Why do all the major USD pairs technically lean to the bearish side despite the FED showing by far the most aggressive stance towards rate hikes?
I still have a bullish bias on the USD for the near future and hope to find some good technical entries to follow my bias.
Let me know what you think about the future of the USD in the comments.
The market on the other hand did already price in 3 to 4 rate hikes for this year. And yet, USD still is weakening across the board.
EURUSD showed a 'fake? breakout' over the 1.14 level and formed a HTF bearish flag pattern but seems to struggle to form a bearish continuation pattern around the 1.133 level.
USDCAD is trading below 1.25, the recent rise in Oil prices surely helped the CAD; and more and more tensions in the Gulf area and the Ukraine could help to push the pair lower.
USDJPY came down almost 300 pips from it's recent high and is now trapped in a HTF bear flag, which could potentially form an expanding structure.
GBPUSD made peak outside the HTF downtrend, fell back into it and is now struggling to form a bearish continuation pattern. It even looks like it is forming an upward reversal.
Why do all the major USD pairs technically lean to the bearish side despite the FED showing by far the most aggressive stance towards rate hikes?
I still have a bullish bias on the USD for the near future and hope to find some good technical entries to follow my bias.
Let me know what you think about the future of the USD in the comments.