DXY - US Dollar: Bearish Harami, but two days Til Month's End
Short thoughts:
A hawkish Fed man, Powell, switched from Hawkish mode to, suddenly, dovish mode. It is a surprise and a clear signal to us that they may not raise rates in December. The resukt was that the US stock market popped us after basing at a long-term trendline. The dollar fell. EURUSD rose with force. This won't be any false breakout.
Technical Signs:
Overbought stochastic
Resistance Zone
61.8% Fib
Monthly Bearish Harami for all to see Two more days til November ends. So, it is not etched in stone on the charts just yet.
Could lead to a fall in the dollar from 96 to 92ish, where support lies.
This could lead to a December fall in the dollar and a Mr. Frost 2018-2019 rally in stocks.
A hawkish Fed man, Powell, switched from Hawkish mode to, suddenly, dovish mode. It is a surprise and a clear signal to us that they may not raise rates in December. The resukt was that the US stock market popped us after basing at a long-term trendline. The dollar fell. EURUSD rose with force. This won't be any false breakout.
Technical Signs:
Overbought stochastic
Resistance Zone
61.8% Fib
Monthly Bearish Harami for all to see Two more days til November ends. So, it is not etched in stone on the charts just yet.
Could lead to a fall in the dollar from 96 to 92ish, where support lies.
This could lead to a December fall in the dollar and a Mr. Frost 2018-2019 rally in stocks.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
