USD still bullish
The USD index turned bullish last month, retraced and appears to be ripe to rip.
Over the early part of this week, the USD index formed a piercing pattern just after it broke down the 55EMA (orange line). A gap up followed today’s opening, and if this follows through, then bullishness of the USD is firm.
Consequence to the USD upside includes a weaker S&P500, crude and precious metals.
Over the early part of this week, the USD index formed a piercing pattern just after it broke down the 55EMA (orange line). A gap up followed today’s opening, and if this follows through, then bullishness of the USD is firm.
Consequence to the USD upside includes a weaker S&P500, crude and precious metals.
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