USDX (Dollar Index) Falling
Based on this chart, It looks as if the dollar index is now in overbought territory and possibly with enough momentum to begin to shrink.
I cant say for sure how this will effect forex markets, but it could lead to some interesting opportunities especially with the euro and the english pound.
Moreover, on the bullish side of things, a declining dollar is actually good for US based stocks that rely on exports because their products will become cheaper.
I cant say for sure how this will effect forex markets, but it could lead to some interesting opportunities especially with the euro and the english pound.
Moreover, on the bullish side of things, a declining dollar is actually good for US based stocks that rely on exports because their products will become cheaper.
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