Weekly Technical Forecast: The Dollar Tumbles and Global Equities Rally Tripping Key Technical Milestones
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The technical break is in. If we were going by the textbook interpretation, EURUSD’s 1.1700 neckline break would trigger further reversal of 2018’s broader trend. Unfortunately, markets are not that tidy.
It was a big week for global stocks as risk-on came back in a big way. With the end of Q3 nearing, might bulls be able to stage a ramp of continuation?
The daily GBPUSD chart has given back this week’s gains and turned neutral to bearish after the recent uptrend was broken with ease, leaving Sterling looking for the next support level.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.