Hi everybody !
USD has been the strongest currency since the end of 2014 summer. Does the speculation on the dollar is ending ? We are close to know it. After FOMC Yellen speech saying that FED won't be impatient to raise rates until economy recovered well could left the dollar uptrend out of breath. Moreover the stock market pressure could push Yellen in waiting longer than expected. The Euro is now cheaper and the market has already anticipated the Draghi QE impact.
On the technical view, we can see a clear double top and the actual price is close to break the neckline. But US Dollar is testing its old uptrend support inside a falling wedge pattern. A break of the uptrend support could lead to the dollar price much lower. Wait & See.
Best Regards,
Serge
USD has been the strongest currency since the end of 2014 summer. Does the speculation on the dollar is ending ? We are close to know it. After FOMC Yellen speech saying that FED won't be impatient to raise rates until economy recovered well could left the dollar uptrend out of breath. Moreover the stock market pressure could push Yellen in waiting longer than expected. The Euro is now cheaper and the market has already anticipated the Draghi QE impact.
On the technical view, we can see a clear double top and the actual price is close to break the neckline. But US Dollar is testing its old uptrend support inside a falling wedge pattern. A break of the uptrend support could lead to the dollar price much lower. Wait & See.
Best Regards,
Serge
