Todays outlook on the USD Index

Finally!!! Price broke above 99.00 resistance. The FED did not increase the interest rates yesterday but dollar turned bullish as chances for rate hike are over 90% according to CME gruop FED watch. If you look at the US forecast at http://www.tradingeconomics.com/united-states/forecast you see that the forecast for second quarter is a increase in interests rates and a increase in the dollar index. Looking at the forecast it would make sense if the market priced in the forecast before the release. The weekly target remains WM4.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.