Traders and investors,
Hope you are well.
Dollar strength has been causing havoc in the markets. Remember the situation not song long ago when the mainstream consensus on the dollar was very dim.
So what is the condition right now?
Reminder: They have a bank holiday on Monday in US. (Labor Day) So manage your trades accordingly.
DXY is still bullish but inside a weekly FCP zone. Both EURUSD and GBPUSD along with gold have been falling down. Last week saw minor bounce up in these markets but then towards the end of the Friday, the market struggled to keep the gains. US30 (Dow Jones), NASDAQ and SnP500 also showed similar behaviour. It is simply because of s simple thing and that is related to DXY. USDOLLAR can still go to 110 and in fact it can go 113, 127 if the strength stays intact.
Our proprietary system VATA Envisage has also indicated that there can be little further bullish targets.
EURUSD on the other hand failed to maintain the new found intraday bullishness. That is because it is trying to reach a weekly and month demand zone and VATA Envisage targets.
We also have VATA Envisage targets avaiable:
More details are available in the analysis video here. Presenting forexanalysis covering DXY, eurusd, gbpusd , usdcad , usdjpy for the coming week.
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Have a great week ahead
Regards
Vikinsa
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