Monitoring Rising USD Patterns
As we approach Friday's US jobs report, deemed by some as instrumental in determining the already surging odds of a Fed hike next week (and by others as irrelevant), here are a few USD notes worthy of consideration. The 6-currency basket USDX is entering its 5th straight consecutive weekly gain, the longest string of rallies since the 6-weekly gains seen on Dec 2014-Jan 2015 when the Fed ended QE3. Interestingly, we haven't had many uninterrupted weekly USD gains. Here are the most recent ones.
The above pattern suggests that gains of more than 6 weeks in a row are relatively rare. Bearing in mind that next week's Fed meeting coincides with a possible 6th weekly gain, could the USDX top be attained next week? Also, keep in mind that the USDX reached topped out 1 day after the December Fed hike. What does this mean for our directional and tactical trades? Find out here.
Latest IMTs
-
Forecaster App التطبيق الذي كنت تنتظره
by Ashraf Laidi | Feb 3, 2025 23:00
-
تداول فوضة تعريفات ترامب
by Ashraf Laidi | Jan 31, 2025 21:19
-
استخدام الذكاء الاصطناعي في الأسواق
by Ashraf Laidi | Jan 7, 2025 11:59
-
Nasdaq vs Bitcoin بيتكوين وناسداك إلى أين
by Ashraf Laidi | Nov 12, 2024 0:34
-
Gold Elections Trades مضاربات الذهب
by Ashraf Laidi | Nov 8, 2024 23:50