Friday, January 26, 2018
The Dollar in a free fall
The
Dollar index has fallen below its 200 month EMA around the 89.35 level. The Dollar
has been beaten down mostly by the Euro and since the Single Currency makes up
to 57% of the Dollar index, that is why the instrument has dropped so much.
Below the 200 month EMA, the Dollar index made a low around the 88.24 level.
Its next support level in case the Dollar keeps dropping could be the 87.00
level. The 55 day EMA is showing us that the bearish trend is strong, but in
case of a bullish pullback, that same EMA may act as resistance. The 200 day
EMA (blue line) may also act as resistance, but it is currently far away around
the 94.00 level.
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It's very bearish indeed.
ReplyDeleteGreat article as always.
ReplyDeleteVery helpful analysis, thank you!
ReplyDeleteWe may see a pullback before another move downward.
ReplyDeleteGreat analysis as usual.
ReplyDeleteVery accurate analysis!
ReplyDelete