I begin with Technical Analysis first.
Look at on the chart:
USDollar index currently stops at SMA200: The signal support: any break SMA200 always sends a strong signal for trend reverse.
And SMA200 is in-line with an ascendling trend line :
This trend line + the descending trend line shape a wedge pattern : Any break from this pattern could mark for a great incoming decline.
I especially emphasize the price action of USDollar next week. I hope it recovers from this support.
If not, we should SELL USDollar across the board.
Next week, key events:
- US Durable Goods Orders
- US GDP (P)
I hope those data could consolidate the hope in greenback.
Look at on the chart:
USDollar index currently stops at SMA200: The signal support: any break SMA200 always sends a strong signal for trend reverse.
And SMA200 is in-line with an ascendling trend line :
This trend line + the descending trend line shape a wedge pattern : Any break from this pattern could mark for a great incoming decline.
I especially emphasize the price action of USDollar next week. I hope it recovers from this support.
If not, we should SELL USDollar across the board.
Next week, key events:
- US Durable Goods Orders
- US GDP (P)
I hope those data could consolidate the hope in greenback.