A technical view of the Dollar Index for the week ahead. Both Dollar Bulls and Dollar Bears have their monthly target clearly set with price coming down off MM3 and forming the lower high early last week in the bearish Dollar trend and the potential double bottom at MM2 which setup late last week. Note that until price has made a higher high the trend on the Dollar is bearish. Fundamentally we expect Dollar weakness to continue though still need to pay attention to market conditions to confirm that the market agrees with our bias. The nice thing about this week is the confluence of WM3 and MPP – a clear line in the sand for Dollar bears. The below analysis provides both a bullish and bearish view with this week’s new pivots taken into account.
Coming up next S&P500.