Good morning, everybody. As you realize, not lots has modified since yesterday. Shares are nonetheless holding up fairly nicely, whereas the US greenback can be holding assist, so it appears to be like like this uncommon correlation stays in play for now.
General, I nonetheless suppose that greenback power will resume, particularly when wanting on the US Treasury futures. We’re seeing a fairly stable reversal from the newest swing highs round 110, and it appears to be like like that is an intraday impulsive transfer that would result in extra weak spot quickly. Particularly, we’re ready for a break under the corrective channel assist line, and that would make the greenback even stronger.
For now, the is exhibiting solely a three-wave pullback from the newest highs, so we proceed to deal with it as a corrective setback. If the Greenback Index recovers above 101.00, then many of the main currencies will probably expertise one other spherical of weak spot.
GH
