FxWirePro: USD/ZAR fibo rejection triggers sizeable pullback 
China's Refining Industry Faces Major Shakeup Amid Challenges 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
God on their side: how the US, Israel and Iran are all using religion to garner support 
EUR/JPY Bulls Charge: Eyeing 186.00 as Euro Strength Intensifies 
FxWirePro: GBP/USD recovers but bears are not done yet again 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Pound Under Pressure as Yen Stabilizes: GBPJPY Bears Target 208 as Key EMAs Hold Resistance 
FxWirePro: GBP/USD outlook weaker on renewed downside pressure 
Before we proceed further, please go through below weblink where we’ve stated the potential bearish pressure as a result of head and shoulder candlestick charting pattern which is bearish in nature.
Well, please glance at daily plotting of the DXY chart, we trace out mounting bearish pressures ever since the bears have managed to break below the neckline of head and shoulder pattern.
Both leading (RSI and stochastic curves) & lagging (MACD and DMAs) indicators are substantiating this bearish stance. Subsequently, the bears are now on the verge of extending 3-years lows.
Although the dollar index slightly spiked today (DXY at 89.11), however, the current prices have remained well below 7 & 21 DMAs, its slide on Friday to counter Thursday’s rally was major owing to the commentaries from Donald Trump.
The DXY remains centered around the 89.00 area with gravity still expected to remain a threat to the index. Note however that potential trade tensions may also continue to lurk near the surface, with US President Trump highlighting “very unfair” EU trade policies over the weekend. With skepticism towards the dollar still significant at this juncture, investors may continue to disregard underlying dollar support stemming from rate differentials.
Coupled with palpable anxiety around the longevity of the unusually swift dollar downtrend, while contemplating above driving forces, we have already advocated the vol structure is motivating considerations of short front vs long back USD put calendar spreads as theta harvesting overlays on dollar shorts.
Currency Strength Index: FxWirePro's hourly USD spot index has shown -11 (which is neutral) while articulating at 10:22 GMT. For more details on the index, please refer below weblink:
http://www.fxwirepro.com/currencyindex.
FxWirePro launches Absolute Return Managed Program. For more details, visit:
