Weekly outlook DXY: In Trump we trust(Short)
The price has rebound from the lower part of the channel. The friday candle end the week engulfing the thursday candle
In the fundamental side:
Trade war, the US-China situation is right now the more important thing in the market, there is no clue yet if there is gonna be any deal for the phase one deadline, december 15, if there is a semideal friendly with the market the dollar price is going to rise is there is not a deal we can expect a very sharply move to the downside. The strong movement on friday was produced by the well performance of the jobs reports in US. For the coming week we must keep attention in the FOMC statement of the economy and if th approach of no more cut in the interes rate in the midterm has change or keep.
In the technical side:
The price made a double top in the previus days near the 98,4 level and with an strong movement touched the lower part of the channel and then rebound and finish the movement in the zone price of 97,86 which one had been changing from support to resistence and viceversa area. On wednesday there is going to be enough strong participants and movement in the market that will define if the price can break to the downside finally the channel.
In the fundamental side:
Trade war, the US-China situation is right now the more important thing in the market, there is no clue yet if there is gonna be any deal for the phase one deadline, december 15, if there is a semideal friendly with the market the dollar price is going to rise is there is not a deal we can expect a very sharply move to the downside. The strong movement on friday was produced by the well performance of the jobs reports in US. For the coming week we must keep attention in the FOMC statement of the economy and if th approach of no more cut in the interes rate in the midterm has change or keep.
In the technical side:
The price made a double top in the previus days near the 98,4 level and with an strong movement touched the lower part of the channel and then rebound and finish the movement in the zone price of 97,86 which one had been changing from support to resistence and viceversa area. On wednesday there is going to be enough strong participants and movement in the market that will define if the price can break to the downside finally the channel.
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