USD/CHF, USD/SEK Lose 2021 Uptrends; USD/NOK Retains Bear Flag Breakout Posture
USD/CHF, USD/SEK Lose 2021 Uptrends; USD/NOK Retains Bear Flag Breakout Posture Advertisement US Dollar Outlook: Even though May is the best month of the year for the US Dollar (via the DXY Index) from a seasonal perspective, significant technical weakness has set in after the extremely disappointing April US non-farm payrolls report. Both USD/CHF and USD/SEK have traded below their intrayearly uptrends, while USD/NOK’s bear flag breakout remains on track. Non-Major USD-crosses Still Look Bearish The April US non-farm payrolls report was the worst case scenario for the US Dollar: the result...
Source: dailyfx.com