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  • US Dollar Draws Down After Powell, CPI, BoJ: EUR/USD, USD/JPY, GBP/USD, Gold

    From forex.com

    It’s been another sell-off in the USD this week to continue the bearish theme that sparked the week before. As we came into Q3, the US Dollar was holding near range resistance at the 106.00 level in DXY; and it’s been a consistent string of losses for the currency since the calendar flipped into July. Monday and Tuesday showed a mild bounce, however, as DXY held resistance at a key zone of 105-105.13. I had highlighted this in the Tuesday webinar and the 105.13 level helped to hold the high into Wednesday. The large more took place on Thursday, and there were a couple of matters of attention there. The CPI report ... (full story)

  • #1
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  • Jul 13, 2024 1:42pm Jul 13, 2024 1:42pm
News = noise
it's all about #cycles + price ... rest is blah blah blah
look @ the chart/s -- the day low/ "bottom" = almost June 7th, 2024 low/ "bottom"

CPI, etc reports -- they all revised in a month or so and no one blinks and eyelid. do we actually trust government reports ? if yay -- I'll sell you the Twin Towers / London Bridge
  • #2
  • Quote
  • Jul 13, 2024 4:00pm Jul 13, 2024 4:00pm
Interesting take here…. I think many rely on the news to make their decision via buy or sell. I’m with you though, take a look at the charts as we all interpret it differently.

Bears were in definitely charge via USD/JPY.
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  • Posted: Jul 12, 2024 1:47pm
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 2  /  Views: 6,517

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