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Gold, USD, USD/JPY, EUR/JPY, GBP/JPY, EUR/USD, GBP/USD Price Action Setups
In last week’s webinar the Dollar was continuing a recovery move that had started the week before, with a comment from Treasury Secretary Scott Bessent ahead of the FOMC rate decision. That rally in DXY ran all the way until the resistance looked at in last week’s webinar came into play, plotted at the Fibonacci level of 97.94 and that’s where the proverbial music stopped for USD bulls. Since then, it’s been a USD/JPY-fueled sell-off as the 13.6% component of the DXY basket (the Japanese Yen) has seemed to have an incredibly large pull on the broader USD backdrop. As USD-softness showed up, EUR/USD rallied ... (full story)
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