The dollar is king with the EURUSD trading to the lowest level since 2002. The GBPUSD traded to the lowet level since 1985. The AUDUSD, NZDUSD and the NZDUSD traded to the lowest level since the 2020 pandemic plunge. Even the USDCHF rallied despite the 75 basis point hike. The USDJPY rebounded Friday and is back at neutral short term technical levels even after a BOJ intervention this week.
The trend to the upside in the USD is strong but corrections can be brutal. So I look at the technicals that might take some of the tarnish off the greenback in the new trading week. It is important to know the trend, but it is important to know the enemy as well. The enemy is a technical bounce.
The pairs I look at technically in the video, and the start times for each:
- EURUSD 8:55
- GBPUSD 12:22
- USDJPY 15:30
- USDCHF 18:00
- USDCAD 20:00
- AUDUSD 22:11
- NZDUSD 24:22