Dollar Drops Before Christmas
Indices climbed higher after another V-shaped reversal.
The dollar Index bounced off the lower line of the pennant. Sideways movement continues but the end is near.
The GBPUSD bounced nicely from the 38,2% Fibonacci. Finally!
The same goes for the NZDUSD. The triple bottom formation looks complete.
The USDCHF completely lost momentum. Watching paint dry is actually more interesting than trading the USDCHF.
The EURNZD continued the reversal to the downside after the false breakout pattern from the beginning of the week.
The CHFJPY finally escaped from the weeks-long sideways trend. The breakout is to the upside.
The CADCHF reversed and created a false breakout pattern and is ready for a further rise.
Silver defended its 22 USD level. A great success butt there’s still a lot of work for buyers to do.