US Dollar is poised for a third weekly rally with DXY now reaching levels not seen since October 2002. Levels that matter on the DXY weekly chart heading into CPI.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bullish contrarian trading bias.
The Euro put in a test at parity earlier this morning and that's led to a bounce. Tomorrow brings CPI data out of the US and earnings season follows next…
GBP/USD is trading near cycle lows, but is creating a chart pattern that may spark a rally soon; scenarios and levels to watch in the days/weeks ahead.
The US and Japan agreed to work together ‘as appropriate’ on FX issues ahead of the G20 meeting starting on Friday. USD/JPY lower after printing new 24-year high