
EUR/USD, Nasdaq Price Outlook: Reversal Risks Build
EUR/USD and Nasdaq Price Outlook: Overbought/oversold momentum on hourly and daily time frames is raising reversal risks across the U.S. dollar, EUR/USD and Nasdaq after a strong weekly advance.
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EUR/USD and Nasdaq Price Outlook: Overbought/oversold momentum on hourly and daily time frames is raising reversal risks across the U.S. dollar, EUR/USD and Nasdaq after a strong weekly advance.

Gold remains resilient despite a stronger US dollar and hawkish Fed rhetoric, while DXY momentum shows signs of fading near resistance.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

While momentum is clearly backing bullish US dollar bets for now, I maintain my bigger picture view that it has topped for the year despite the Fed’s hawkish hike

Gold and silver are feeling the full force of surging US yields, but the dollar’s failure to join in may be saving them from an absolute drubbing.

From 1994 and 1999 through to the dollar surge of 2022, history shows Fed tightening has produced very different outcomes for DXY.

Yen bears finally flip net long as US dollar exposure falls sharply, while CAD shorts continue to unwind ahead of major central bank meetings.

A core CPI reading that rounds to 0.3% m/m or even an unrounded reading above 0.20% would signal that inflation is not slowing sufficiently, and a Fed rate hike may be necessary next week. What would that mean for the US dollar?

The U.S. Dollar is holding a critical technical floor, with CPI and next week’s Fed decision poised to drive the next major move.

US inflation risks are building beneath the surface, while DXY and several FX majors are showing early signs of a potential near-term dollar rebound as PPI and CPI loom.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

Gold and silver remain unusually sensitive to US dollar direction, with US inflation data and elevated risk of disorderly carry trade unwinds in focus for traders over the remainder of the week.

DXY has broken below the 200-day moving average as selling accelerates toward major support, raising the stakes ahead of Friday’s NFP report.
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