USDOLLAR INDEX BREAKING DOWN AGAINST 11855The USDOLLAR index has broken its upward channel and now seems free to go to the next resistance level of 11855. This couls spell a short term rise un EUR and GBP v USD.
Usdollarshort
USDOLLAR INDEX H4 FORECAST NEXT WEEKUSDOLLAR INDEX H4 FORECAST NEXT WEEK: I think price will drop into 72Fib and then move up to 162Fib.
But i have doubts about the upmove to 162Fib since both COT-data and accumulation-levels signal bearish developments.
Another conflicting source is the seasonal chart of the USDX . This chart show clearly that USDX weakens in pre-election period.
Buy Setup Targets 1.10+ Technical & Fundamental Swing SetupThe DXY - US Dollar Index has broken a channel that has been holding the upside for several weeks. This is a clear signal of Dollar Weakness to come.
From a fundamental perspective, this week the FED did not seem all too dovish in it's statement, but at the same time it was lacking the main component for broad based USD Strength - A clear signal for March. Similar to what the FED presented in November to prepare the markets for December Liftoff.
The EURUSD remains in an up channel on the 4H. Current momentum is bearish and strong on the day, so a reversal candle in the buy zone will provide some conviction of a slowdown in momentum before the trend change.
First Targets come in at 1.10 - once that level is taken out, the pair has scope for the 1.13 area
Double Top Madness.The market is repeating itself with lower values and has formed a classic double top. I think the increase we are seeing now is Yellen hype. A push up will close out shorts then the market should fall to the neckline support.
