Yes true - just saying from a statistical and technical point of view the probability for a bullish breakout is higher, but of course it can fail.

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1.18 <- can‘t touch this!

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The small declining channel you show for the last 4 days is rather a bullish pattern, so the probability of a breakout to the upside is higher from a technical point of view.

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Looks still bullish. If it does not cross the 1.18 in the next few minutes this would be a strong bullish sign.

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Always looking for wedges - and the current intraday decline looks like a falling wedge yet again. Btw remember the pattern of the last months - whenever a sharp decline was not able to touch the next big figure it ended up in a bull rally.

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Btw guys, pay attention to the issuance calendar of eurobonds, on Tuesday central banks apparently bought 40% of the 15 bn issued eurobonds (unhedged). This is part of a larger reallocation of money reserves away from the USD and into the EUR. This ...

EURUSD only

I still believe in 1.27 for year end, 9 weeks left for the bulls to push it to the limit.

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Btw if the stimulus talks fail this will rather support the USD and if the stimulus talks are successful the USD should fall, not sure if you meant it the other way around.

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Haha, hope they are not falling

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If you look at it in ticks you see a falling wedge followed by a half ball breakout

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Referring to a short-term correction. Over the next weeks, if a fiscal stimulus of ~1.8trn $ passes the US senate and if Biden wins, the USD should break through all these lines, with further 5%-10% of quick depreciation looming.

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I think in the DXY there are two strong support lines - one from 2008 and one from 2011. The former has already been crossed at 93 and the latter goes through 92.15. Check this, still some downside there.

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Wedge broke out to the upside as expected and retested the wedge resistance line successfully. In my view the correction is finished for now and EURUSD could resume its rise.

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Careful bears, this looks like a falling wedge with a breakout to the upside likely if 1.1845 area holds.

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That's why I did not want to play shorts for the time being. At some point long-term fundamentals gain back the upper hand and this might be one of these moments.

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Nice bull day.

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Haha, seems you are one of the last monster-bulls standing. That's exactly what I think too. Though the zick-zack will probably continue before the election, creeping higher however, if the Biden lead remains.

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Just took a look at my DXY chart and there yesterdays move was perfectly explained as technical by the drawn lines.. As explained by Ata already. But my chart suggests that we will see yet another reversal today.

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Not for now, the fundamental picture for a weak USD is too overwhelming.

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I hope they won‘t... Biden must help by renewing his proposal of a 15 million USD minimum wage.

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