pair is trying to form a large head and shoulders formation with the head being in the region that the prices. For those who are closely associated with the markets, they would have seen this coming for the past few months and they would be glad that it is upon them as of this point. Please try again or go back to registration reCaptcha Authentication Required, an email with the reset link to your password has been sent. Enter your email address and a link to reset your password will be sent to your inbox. Over the last few weeks, we have been seeing the rise and rise of the US dollar and the seeds of this rise had been sown during the first half of the year. The pair has been trying to find a bottom and if and when it manages to do that, we should see the dollar weakening.
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Rather than a quick fall, what we are seeing is a slow drip downwards and it has to be said that the Euro has managed the situation quite well as it continues to trade above the.10 region and continues to punch above its weight. Wall Street kicked off with a strong opening, which quickly faded, although the greenback continued strengthening against most rivals. Technical indicators in the mentioned chart entered bearish ground mid-European morning, holding below their midlines, and with the RSI still heading south, in line with additional slides ahead, particularly on a break below the mentioned.1430 level. Meanwhile, concerns around Italy eased after PM Giuseppe Conte told reporters "read my lips Italy won't leave the eurozone, despite the dispute over the budget, adding a pledged to keep 2019 deficit below the.4 of GDP. So it is clear that the markets are looking for something more from the Fed and the US and that can only lead to disappointment. This shows that there is a scope for the bullish momentum to build as we head into the last part of the year as long as the shoulders continue to hold in this formation. Don't worry, we got you covered.
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