US Dollar Index Trend Analysis
Currencies / US Dollar Oct 11, 2019 - 03:23 PM GMTBy: Nadeem_Walayat
A good technical starting point would be a quick look at the prospects for the US Dollar.
A quick take implies:
a. The dollar is in a bull market, though in a shallow peak to peak uptrend.
b. Is at resistance of between 99 to 100.
c. Trading higher in a 4 cent trading range,.
Therefore implies to expect the US dollar to correct over the next month or so which is supports GBP strength over the next couple of months of about 4-5 cents so to around 1.27. Beyond which dollar trend strength could bring GBP down off its high by about 5 cents so to the low 1.20's.
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By Nadeem WalayatCopyright © 2005-2019 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.
Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.
Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk
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