US Dollar Index - Rally on bad news
The NFP number came out weaker, but there was no effect on the dollar. It just continued the rally.
The dollar bottomed in its intermediate cycle so will continue its rally.
We are at the breakdown level now where the panic selling started. One or two days
and we blast through it.
I think this was the last hope of the trapped dollar bears below the range.
As soon as we rally above 94$ they have to face to be caught in the wrong direction.
MACD tried to cross over but couldn't. We will be testing 95 $ next week.
The dollar bottomed in its intermediate cycle so will continue its rally.
We are at the breakdown level now where the panic selling started. One or two days
and we blast through it.
I think this was the last hope of the trapped dollar bears below the range.
As soon as we rally above 94$ they have to face to be caught in the wrong direction.
MACD tried to cross over but couldn't. We will be testing 95 $ next week.
Back deep in the blue range. Retail sales news are supporting us.