EUR/USD

4 hari lalu

I have been doing my best to try and understand the reason as to why DXY gained that much momentum within such a limited number of days .After a lot of research i came to realize that the reason as to why the dollar gained that much momentum is because of the stand of the us in supporting Israel in its was against Iran. Looking back as to when the bullish move started its clearly obvious that a lot of action started developing after the us president announced that he was going to support Israel in the war hence i came to a conclusion that because of the mulitary strength many investors moved their assets and money to to the states hence supporting the currency which was can all agree that is overvalued. Last week news events displayed that the rate of unemployment was high in the states where after looking at the strong bearish move that happened on Friday i am led to believe that most people are now coming to realize that the dollar is not as powerful as they thought and are cashing out their assets hence the strong bearish power. I believe that as from next week the dollar will continue loosing its strength meaning that we can expect a bullish EUR/USD and GBP/USD and a bearish DXY