Dollar's Double Bottom & Projection
Updated
Technicals:
The US Dollar has broken out, putting in a double bottom. What's more, the price of the USD is above its 200 moving average, which suggests good things to come for the greenback. Other indicators suggest that this trend should continue.
Fundamentals:
Backed behind increasing yields, inflation (such as oil among others), this trend should continue. Deleveraging is not in sight for now.
Projection:
96.80 to 97.75
The US Dollar has broken out, putting in a double bottom. What's more, the price of the USD is above its 200 moving average, which suggests good things to come for the greenback. Other indicators suggest that this trend should continue.
Fundamentals:
Backed behind increasing yields, inflation (such as oil among others), this trend should continue. Deleveraging is not in sight for now.
Projection:
96.80 to 97.75
Note
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