USDX DAILY CHART – BREAKDOWN BUT..
The break of 104.61 confirms a downtrend but to remove all doubts 103.93 and the trendline need to be taken oit.
On the upside, USDX needs to stay below 104.61 to maintain the breakdown.
NOTE THE USD DOWNMOVE STARTED LAST WEEK WITH A JUMP IN US WEEKLY JOBLESS CLAIMS. THIS ELEVATES THIS REPORT IN IMPORTANCE ON THURSDAY.
Michael. I never question someone’s trading, especially yours given how far ahead yiu were calling for a buy bias in EURUSD.
But if you don’t mind a discussion of trading, I focus on what side to trade and where there are stops to go after. In this regard, if you know the bottom and not the top, then in this case it is the upside that is at risk and I don’t look for a top until the Amazing Trader gives me a sign to do so.
Just passing on the way I look at trading.
for a while longer
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“The biggest uncertainty in my mind is how much downward pressure is monetary policy putting on the economy,” “That’s an unknown — we don’t know for sure. And that tells me we probably need to sit here for a while longer until we figure out where underlying inflation is headed before we jump to any conclusions.” – kashkari
neel is a not a voter. bowman is.
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