Disclaimer: The opinions expressed in this article are the personal views of the author and do not constitute investment advice.
Like I said yesterday, the upper Bollinger band did not stop the advance in US stocks but we are now stalled under the falling daily trendline ahead of this year’s highs. A failure here could be a much awaited relief for USD bulls, while a decisive bullish break could set us on course to 1.5000 in EUR/USD. It could turn out to be a very interesting holiday weekend. For now, overbought AUD/USD, NZD/USD and even EUR/USD and S&P 500 broke the hourly uptrend line but price action is very subdued, or should I say eerily quiet as the market holds its breath….Quite often the first day of the month also means the highest EUR/USD, well, this is the first of July, first day of the quarter too.
