EURUSD GBPUSD USDJPY DXY Market Note

7 בספט׳ 2022

The result of today's strong US ISM non-manufacturing data: ISM Non-Manufacturing PMI (Aug) Actual: 56.9 Forcast: 55.1 Previous: 56.7 pushed the DXY higher today as data showed a bullish sentiment overall from an actual and previous data standpoint. Banks and investors still show confidence in buying the US dollar as fundamentally Powell still wants to raise interest rates on September 21st.
Technically today the DXY has shown some 4 hour selling pressure, along with the EURUSD which has had a near half period MACD buy signal also on the 4 hour chart which may be suitable for a long day trade along with GBPUSD. So far the DXY near half period MACD has not shown the bearish signal yet but it is approaching with the opportunity to exit from yesterdays continued short with near break even or from two days ago with profit. I will be waiting for a low risk opportunity to short USDJPY but if you are early it can be dangerous. I will try to keep an update here. EEUR/USD

Ilyas Khan Top1 Markets