Dollar Index Fundamental Weakness Ahead!
Updated
Welcome everyone for another trading idea!
Im doing my weekly analysis currently and there is one thing i see when im going trough the currency pairs:
There is a lot of selling pressure on the US DOLLAR.
Every other currency crossed with the dollar is getting a lot of strength right now. The Euro against the Dollar made a huge bullish candle this week and also other pairs like the AUDUSD or NZDUSD are gaining strength.
Looking at these fundamentals and also the technical point of view i see the dollar in a huge correction the next weeks or maybe months.
In my last dollar trading setup, which i linked below, we discussed the peak high and other technical tools for the DXY.
The markets will open soon again and im wishing everyone of you guys a great trading week!
Im doing my weekly analysis currently and there is one thing i see when im going trough the currency pairs:
There is a lot of selling pressure on the US DOLLAR.
Every other currency crossed with the dollar is getting a lot of strength right now. The Euro against the Dollar made a huge bullish candle this week and also other pairs like the AUDUSD or NZDUSD are gaining strength.
Looking at these fundamentals and also the technical point of view i see the dollar in a huge correction the next weeks or maybe months.
In my last dollar trading setup, which i linked below, we discussed the peak high and other technical tools for the DXY.
The markets will open soon again and im wishing everyone of you guys a great trading week!
Note
Price did bounce from the trend line for now! Lets see if it holds that high and breaks down. Tomorrow Rate Decision.Note
Price is again on the bullish trend line. Lets see if it can hold.. i think it will not!Note
Bye Dollar haha! Funny some people really thought it will even go higher.
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