I am not surprised about great falling of USDollar recent days.
Market punished greenback after dissappointed Meeting, I foresaw this when I post this article:
In my opinion, I think most investors have had wrong judgement about the Meeting : The rate hike decision is on table: It's still possible in this year.
However, we cann't stop the profit taking and risk aversion.
In the long term, I still put my faith in USDollar, and investors around the world is retreating from EM markets and bring Dollar back to mainland.
At least, for the being time, the correction should favor but is limited.
- Technical Analysis
Look at on the chart, DXY moved below SMA100, SMA50, EMA50, and Kumo cloud.
It is on the way to SMA200 : very strong support.
I don't believe DXY could break SMA200 : the test around SMA200 is a chance to BUY DOllar at lower level.
Market punished greenback after dissappointed Meeting, I foresaw this when I post this article:
In my opinion, I think most investors have had wrong judgement about the Meeting : The rate hike decision is on table: It's still possible in this year.
However, we cann't stop the profit taking and risk aversion.
In the long term, I still put my faith in USDollar, and investors around the world is retreating from EM markets and bring Dollar back to mainland.
At least, for the being time, the correction should favor but is limited.
- Technical Analysis
Look at on the chart, DXY moved below SMA100, SMA50, EMA50, and Kumo cloud.
It is on the way to SMA200 : very strong support.
I don't believe DXY could break SMA200 : the test around SMA200 is a chance to BUY DOllar at lower level.