Good morning, everybody. As you recognize, not loads has modified since yesterday. Shares are nonetheless holding up fairly effectively, whereas the US greenback can be holding help, so it seems to be like this uncommon correlation stays in play for now.
Total, I nonetheless suppose that greenback power will resume, particularly when wanting on the US Treasury futures. We’re seeing a reasonably strong reversal from the latest swing highs round 110, and it seems to be like that is an intraday impulsive transfer that might result in extra weak spot quickly. Particularly, we’re ready for a break beneath the corrective channel help line, and that might make the greenback even stronger.
For now, the is exhibiting solely a three-wave pullback from the latest 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 possible expertise one other spherical of weak spot.
GH
