Weekly Technical Forecast: Reversals are Taking with the Equites Up Four Week and the Dollar Back with Bulls
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The US Dollar is an unmoored currency. The US government shutdown has shuttered the doors of many federal agencies. The result has been that the US Dollar has closely hewed to the movements of other asset classes, tracking risk appetite broadly.
A positive week for Sterling across the board ends with minor pull-backs ahead of the weekend
Descending trendline to spark inflection point for S&P 500, while DAX breaches key resistance.
The crude oil price has climbed a wall of worry at the start of 2019, and now Brent is above $60 & WTI is above $50 with multiple supporting factors favoring the recent advance.
The Euro is backing down into support and may bounce, but overall a bear flag is under development and at some point likely to lead to another leg lower…
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.