Silver has grown many days as a correction when US PMIs were not good as expectation, and waiting for a dovish hint from Powell in Jackson Hole. I expect Powell will continue being hawkish and along with the bearish from EU UK AUD PMIs, USD will benefit from that.
Market is waiting for Jackson Hole meeting when Powell will hint the dovishness about the economy. Secondly, USD is taken profit after overextending many days. CHF is the strongest currency atm too. So I expect there would be a decline on this pairs.
German PMIs and France PMIs are disappointed which will drag EUR lower and also a reason for USD buying. I expect a decline continuation for this pairs
GBP/USD is experiencing the last Elliot wave. UK recent datas are downbeat but still strong and steady which can make BoE consider abt 1 more rate hike in Sep. The pairs has built up a double-bottom pattern and about to complete a wave 5.
DXY is at an important level. The main bias is downtrend with the structure of LL LH. The current price is at a swing high as well as resistance. From TA, I am consider a Short trade to continue the trend. But with a recent datas from US, we are still experiencing a steady economy, which makes me wait for a breakout above.
Although it is a late entry but I expect there would be a bearish OIL in a short term cuz Chinese economy is worst and worst. Oil is testing Resistance along with stronger USD ahead of CPI.
