Dollar: Weekly Forecast 10th - 14th February 2020
The dollar has climbed for 5 consecutive days last week.
The U.S. economic data released were all better than forecast except for manufacturing PMI that's somewhat shrinking.
During NFP, the dollar had a temporary pullback, probably due to overbought sentiment, but quickly picked up again and broke a 4-month high.
As the price continues to create higher highs and lows and shown no sign of reversal, the price is expected to climb further.
The occurrence of 5 consecutive bullish candles is not common and thus increases the odds of a pullback.
The U.S. economic data released were all better than forecast except for manufacturing PMI that's somewhat shrinking.
During NFP, the dollar had a temporary pullback, probably due to overbought sentiment, but quickly picked up again and broke a 4-month high.
As the price continues to create higher highs and lows and shown no sign of reversal, the price is expected to climb further.
The occurrence of 5 consecutive bullish candles is not common and thus increases the odds of a pullback.
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