EURUSD bagged and tagged
As mentioned before, so long as DXY has not reach the finishing line, which is the higher time frame upside objective,
Risk Off will still be in play.
Same narrative, different pair.
What happens when DXY finally gets to the upside objective? We sit sideline and study what it wants to do next.
There are only 3 possible direction of the market, Bullish / Bearish / Consolidation.
Usually, in my opinion, after a prolonged rally / decline, price will tend to consolidate for a bit.
After consolidation comes expansion. The question is, expansion to the upside or downside?
Now, this short-term bullishness of USD as I previously stated, could be Bear Market Rally for USD.
Mr Powell will likely hike rates again in the next Federal Fund Rate announcement.
In theory, higher interest rate means bullish for currency.
But look at US domestic debt condition. Will that spook investors?
Housing and Banking looks about to get crushed.
US Credit Card debt climbs nearly US$1 Trillion
*source: Insider Intelligent*
Household debt hits record US$16.9 Trillion
*source: CNN Business*
Housing Market Downturn Wipes $2.3 Trillion In Value As Experts Predict Prices Could Still Tumble Another 10%
*source: Forbes*
US Home-Purchase Applications Drop to 28-Year Low
*source: Bloomberg*
Risk Off will still be in play.
Same narrative, different pair.
What happens when DXY finally gets to the upside objective? We sit sideline and study what it wants to do next.
There are only 3 possible direction of the market, Bullish / Bearish / Consolidation.
Usually, in my opinion, after a prolonged rally / decline, price will tend to consolidate for a bit.
After consolidation comes expansion. The question is, expansion to the upside or downside?
Now, this short-term bullishness of USD as I previously stated, could be Bear Market Rally for USD.
Mr Powell will likely hike rates again in the next Federal Fund Rate announcement.
In theory, higher interest rate means bullish for currency.
But look at US domestic debt condition. Will that spook investors?
Housing and Banking looks about to get crushed.
US Credit Card debt climbs nearly US$1 Trillion
*source: Insider Intelligent*
Household debt hits record US$16.9 Trillion
*source: CNN Business*
Housing Market Downturn Wipes $2.3 Trillion In Value As Experts Predict Prices Could Still Tumble Another 10%
*source: Forbes*
US Home-Purchase Applications Drop to 28-Year Low
*source: Bloomberg*
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