Weekly Technical Forecast: Is This a Pause or Reversal for the Strong Dollar and Equities Climb
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Sterling is back to near its best level of the week against the US dollar and is set to push higher with the four-hour chart looking positive.
Dollar rally lost steam immediately after hitting a potential breakout this past week. Is the market setting up another false breakout reversal or is this just a pause before the real bullish move is made ahead?
There has been a change of the tone in the price action of global stocks so far in Q4 as pressure has shown the world-around. But we're just one week in and there is a lot of the quarter left.
Last week the euro breached big support and finished the week around it; barring a firm recapture more weakness is expected in the days ahead.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.