USD continues to cool

With the Fed (not surprisingly) refraining from raising rates, the USD resumed lower, settling -0.8% @ DXY 94.49. The secondary target zone of 92/90 remains on track.. within the next few weeks. From there, King Dollar looks set to begin a hyper ramp to the 120s.


USD, daily2

USD, monthly3

Summary

Little to add.

The USD continues to cool, a mid term floor looks due within the next few weeks. It will be especially entertaining to see how the precious metals and Oil react once DXY 101s.
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**Bonus chart...

Greece, monthly

A clear break of lower rising support, with the Athex -17% so far this month.... truly dire. It would appear the 2012 low of 471 is going to be tested. That is another 210pts lower, a rather severe 31%

How low could the Athex fall with a default and eventual reversion to the Drachma? Very hard to say.... but what is clear... the near, mid, and long term trends remain nightmarishly bearish. The Greek market has lost 91% of its value since the May 2000 high of 7419.
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Looking ahead

Thursday will see the usual weekly jobs, CPI, current acc', phil' fed, and leading indicators. That will be plenty to give the market an excuse for some early morning price action!

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Goodnight from London