I'm pretty sure we will go down from here. Time runs out next week for the weekly trend but there are signs pointing at a top right here, right now...
Cheers,
Ivan Labrie
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Practically all majors in FX should be reversing here as well. You can take your pick, or trade them as a basket or trade the index...
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#DXY: The dollar index might be about to trend up from here, this would align with the forecasts in USDJPY and the stock market
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#DXY about to trend up, possibly the final up swing in the dollar, judging by confluence of timeframes indicating the end of a trend at once, and at a similar price point...
Agreed. I think the odds are overwhelming here that the Dollar has picked. I will give it a 80-90% chance and that's about the highest odds I will assign to any trades. Gold bulls should be very excited about this.
@oztrader22, the charts of all commodities, multiple FX pairs and gold show this reversal.
nakov
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@IvanLabrie Thanks for your analysis! What do you think about EUR/USD pair for next month as EUR is quite weak too after last week's ECB dovish statement?
take care