USD PRICE OUTLOOK: US DOLLAR IMPLIED VOLATILITY & TRADING RANGES FOR NEXT WEEKThe US Dollar was despatched on a rollercoaster
USD PRICE OUTLOOK: US DOLLAR IMPLIED VOLATILITY & TRADING RANGES FOR NEXT WEEK
- The US Dollar was despatched on a rollercoaster trip final week because the dollar whipsawed across the newest commerce conflict headlines, FOMC fee minimize in addition to knowledge on Q3 US GDP, nonfarm payrolls (NFP) and the ISM Manufacturing PMI
- USD value motion stays beneath strain and the dearth of a sustained rebound subsequent week poses a serious menace to the US Greenback’s longstanding bullish pattern
- Discover out foreign currency trading Tips and Strategies for the US Dollar Index
The US Greenback is resting on the sting of a cliff after a risky buying and selling week left the DXY Index roughly 0.75% decrease regardless of spiking greater fairly considerably in response to the newest FOMC decision and stable NFP report, however rapidly pivoted decrease throughout Chair Powell’s press convention and on a disappointingISM Manufacturing PMI studying.
A weekly US Greenback Index value chart reveals the dollar’s broader technical backdrop and brings to gentle the bearish rising wedge pattern seemingly etched out since mid-2017. Additional underscoring draw back in USD value motion is the obvious bearish engulfing candlestick printed this previous week after a rejection on the 98.00 deal with close to and the rolling 20-week simple moving average on the DXY Index.