The US$ closed lower for the week and is now below the daily and 4hr Cloud. Currency traders need to monitor for any new FX Index alignment as this has the potential to trigger the return of trending markets.
Not a lot has changed since my update from yesterday as traders wait for news about the US stimulus deal. The looming Presidential debate might be adding to the uncertainty as well.
The US$ is dipping BUT is still within the support zone of the daily Cloud. However, this latest bit of weakness has helped trigger some new breakouts. The final US Presidential Debate is scheduled for Thursday night USA time, if it goes ahead, so watch this event for any impact on risk sentiment and the […]
US stocks closed higher on stimulus hope and the US$ is a bit weaker. There has been a bit of movement on a few Forex pairs but otherwise there isn’t a whole of change just yet. I maintain that there still needs to be a decisive breakout on the DXY before decent trending markets return.
US stocks closed lower on concern about US Covid stimulus but the US$ index, and most Forex pairs and Gold, remain range-bound. Patience is required here in the wait for new breakouts.