Watch STANDARD DEVIATION on Price Action
On the tech angle, the USD index correction to the US session low of 94.49 is a retest of the psychological price support after coming from a high at 96.98 last week. Pressure from another news report on Pres. Trump's legal issues has been in the newswire again.
The market's ability to search for a reason to move lower have been coming from several directions outside of the main-stream reasons why US equities and USD continues its much extended run until now.
As we weigh the issues concerned, this may prove to be another market misdirection, that would not bear any serious implications. But may also have a short term ill effects on prices are in realignment month-end mode position adjustments. We have another week to go and pay close attention to the closing prices for the week ending Aug 24th and the 31th of the month.
Focus on the USD Index as the main / major indicator in trading and
investing in the Financial markets
Likewise, the 'POWER TO ENDURE' daily market VOLATILITY especially when inconsistency in narratives emerges. surrounding trade positions, can disrupt market outlooks even when in fact it is still on the right side of the market well within the major trend. Be guided accordingly with price action nearing supports and resistances.
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An Investor / Trader Mindset
An Investor / Trader Mindset
From the post analysis dated above at Aug 22 until today Sept 7th; the USD Index - DXY resiliency have held well from August retest at 94.16 low. In fact, it is a gradual ascend in prices are quite orderly with higher lows from the past two months well above its three month average at 93.75.
ReplyDeleteWith the NFP on Jobs were quite positive for the USD, the DXY is currently at 95.25 in the US session. Accompanied by a weaker EURO that fell back to 1.1576, while the Pound once again got a lift from Brexit news trading at 1.2961.