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Dollar_index

SHORT US Dollar Index forms interim low at 95.16?The US Dollar Index hit lower at 95.16 levels yesterday before pulling back. It is seen to be trading close to 95.60 levels for now and could continue higher towards 96.00 levels at least before reversing again. Please note that a counter trend rally was looking to be due after the thrust move between 95.98 to 95.20 levels earlier. Looking into the short term wave structure, an impulse drop seems complete from 96.68 to 95.16 levels respectively; and a probable counter trend rally could be underway now. This could be a temporary relief to bulls, before bears take back control around 96.00 levels. The larger wave structure remains unchanged for now with the expanded flat unfolding into its last leg Wave (C) lower towards 94.00 levels, going forward. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
DOLLAR INDEX ANALYSISIn recent weeks the Dollar Index has moved within a rectangle. If we take the analysis on a "fundamental" level, it could be an inversion rectangle. Yesterday, the Fed raised rates. In the early hours, the dollar strengthened. It was enough, however, a reading of the Economic Projections to understand that the dollar came out weakened by the meeting. Briefly, almost all data were revised downwards (compared to the previous September report). In particular, the GDP dropped from 3.1% to 3.0% for this year and from 2.5% to 2.3% in 2019. The rate hikes, forecast three times in 2019, fell to two (at the moment). So, fewer rate hikes and weakened economic conditions certainly don't help the dollar. However, we have to take into account that, right now, it's not the best time to trade. In five days it's Christmas, and most of the big investors are currently out of the markets. So, everything becomes more complicated. In the medium-term, I'm convinced that we will see a drop in the dollar but in the short-term, anything can happen. To all of you Merry Christmas and a New Year full of gains!!
ICEUS:DX1!
by TradingwDavid