Precisely seven days prior, we featured a portion of the essential and specialized signs that EUR/USD's 16-month uptrend was at long last arriving at an end.
While we were centered around advancements on the East side of the Atlantic a week ago (counting the ECB meeting), the market's concentration is moving westwards this week, with the May Federal Reserve meeting set to finish up tomorrow and the constantly impactful Non-Farm Payrolls give an account of Friday. As needs be, we're concentrating on the standpoint for the US dollar file (DXY) today.… and what a run it's had!
The list has surged by 300 pips over the most recent two weeks, bringing the most-took after measure of dollar quality again into positive domain for the year. As of composing, DXY is moving toward its year-to-date high, and a key past help/protection level, at 92.60. After such a solid keep running in such a brief timeframe, we wouldn't be shocked to see dollar bulls take a few benefits around that hindrance.
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