the exchange rate is ready to take directionality after months of contained volatility.
Last week's negative US data could put stock indices under selling pressure (I do not expect an imminent sale because Powell's words about a more dovish attitude in case of need could still have an effect on the markets) and I expect gold to rise further, in this scenario the dollar could be negatively affected.
From a technical point of view, the last weekly candle closed above the dynamic trendline for the first time in 2019. All other attempts to approach this trendline were immediately and forcefully rejected in recent months.
I expect the impulse of last week to be the first of a new trend.
Gud lak
Mox
Last week's negative US data could put stock indices under selling pressure (I do not expect an imminent sale because Powell's words about a more dovish attitude in case of need could still have an effect on the markets) and I expect gold to rise further, in this scenario the dollar could be negatively affected.
From a technical point of view, the last weekly candle closed above the dynamic trendline for the first time in 2019. All other attempts to approach this trendline were immediately and forcefully rejected in recent months.
I expect the impulse of last week to be the first of a new trend.
Gud lak
Mox
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