The $ has broken out of that pennant formation I mentioned last week.
The last bit of support level might be around 71 which was it's previous low. After that - nothing but empty air.
It all depends though, we've seen the $ rescued time after time on a day-to-day basis.
And the upcoming Fed meeting may hold rates (current expectation is 50 basis point cut) because of $, interest rates up today, and financials are doing ok.
If they hold, and if market expectations start turning that way, that would give a good boost to the $.
2 comments:
The $ has broken out of that pennant formation I mentioned last week.
The last bit of support level might be around 71 which was it's previous low. After that - nothing but empty air.
It all depends though, we've seen the $ rescued time after time on a day-to-day basis.
And the upcoming Fed meeting may hold rates (current expectation is 50 basis point cut) because of $, interest rates up today, and financials are doing ok.
If they hold, and if market expectations start turning that way, that would give a good boost to the $.
On my previous post, I meant "inflation rates" being up not "interest."
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