The US Dollar has finally shown some element of strength after the oversold reading on the weekly chart from late-August. As covered in these webinars over the past month, EUR/USD has seemed most vulnerable as the pair continued to struggle at the 1.1200 level.
As looked at in DXY there's a break of a falling wedge and this could be the early stages of a bullish move which, if the case, keeps bearish EUR/USD as attractive.
However, if USD strength can't hold and we do see Dollar-bears return, GBP/USD and AUD/USD could be more attractive venues for DXY-weakness scenarios.
Gold is still aggressively strong and pullbacks have remained light. I looked at near-term support structure in the webinar and, bigger picture, the 2600 level remains of interest.
USD/JPY is still a wild card in my mind as the longer-term fundamental backdrop is increasingly bearish given the Fed's start of a rate cut cycle. Price action doesn't match that currently, however, and this keeps the door open for short-term bullish strategies, even after the 400-pip sell-off last Friday on the back of Japanese elections.
Timestamps:
00:00 - Introduction
02:16 mediaset streaming - US Dollar, DXY, USD
15:11 - EUR/USD
23:19 - GBP/USD - USD weakness scenarios
27:11 - AUD/USD
32:36 - USD/JPY
47:30 - Gold, XAU/USD
53:10 - EUR/GBP
54:18 - EUR/AUD
For a full archive of prior webinars, the link below will take you there: Price Action Webinar Archive Playlist-
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