Check out this week's forex forecast: Forex Trading FX Money Markets
the U.S. Dollar Index printed a bearish candlestick rejecting theThe candlestick is quite large but has a substantially lower wick, suggesting neither bulls nor bears are decisively in control here. Another bearish sign is thatI do not like to trade against long-term trends, so I will only take trades against the US Dollar this week.
I would be bullish here, but while markets have been closed over the weekend, we have seen more hawkish comments from a Fed member, which could trigger a lower open Monday and bearish price action, at least over the short term.We saw a strong rise in the stock market index on Friday after it spent the earlier part of the week in a bearish consolidation.Friday’s price action was very bullish.
Technically, the chart looks bullish, and may rise further, but it is worth noting the weekly candlestick is only weakly bullish., and the price makes a daily close at a new record high price.Bottom Line I see a long-term investment opportunity as valid in the S&P 500 Index following a daily close above 4050. I also see a long trade in the US 2-Year Treasury Yield if we see the fast-moving average cross above the slower one with a new high at the daily close.
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