What a ride!
Just barely 4 days later and the currency pair is back to test 1.4800.
Oil is currently above $70, aiming to go to the top of the range at the $75 region.
Gold is our superstar now, at a towering $1055. If it continues at this rate, say goodbye to the wedding ring 😛
So what we have here is the triple clues screaming out “A WEAK USD.”
Although the US has spoken about the policy of a strong dollar, we have yet to see concrete actions in support of it.
Next resistance in the house will be the previous high of 1.4843.
Should the bears regain the action, lookout for previous high of 1.4719.
Quite a few important releases coming up including the likes of German ZEW Economic Sentiment, US Unemployment Claims. Interesting 🙂
While we busk in the light of positive sentiments, unemployment rates aren’t exactly something to be proud of.
Monitor closely for a breakdown of sentiments if any.
It is Monday! I’m blue da ba dee da ba daaaaaaaa.
Let me retire from work already Forex!