Just as market sentiment began improving and the US dollar index showed its first 3-day losing run since March, selling resumes across the board. Yesterday's solid US retail sales gave Powell the confidence to stick to his “inflation-remains priority” rhetoric. Interestingly,
DXY, EURUSD and US-10 year all stabilized at their 21-day moving averages. No, this is neither a piece about “bear market rallies”, nor about “Intermarket technical confluences” covered successfully at last Thursday's market low. This in fact is about how the market could resume rallying into next week—despite Wednesday's wobble.
Keep shooting straight like that !
Wally Bee
Do these pairs mirror the meanderings of the EUR/USD ? When are you going to give us an update on these pairs ?
Thanks for your continuing prescient commentaries .
Wally Bee