You are here:---US Dollar Index (DXY) Technical Analysis (Weekly Chart) 19th July 2017

US Dollar Index (DXY) Technical Analysis (Weekly Chart) 19th July 2017

This is a US Dollars Index (DXY)  Technical Analysis on a Forex Blog.

US Dollar Index (DXY) – On the weekly time frame, we see this pair going lower.

Technical indicators are still showing bearish momentum for the greenback.

The recent tumbling of the greenback have been attributed to weaker than expected inflation data on Friday.

However, if you look at the chart, it seems that the greenback have been falling for quite some time already. It seems that the market is no longer seeing Trump in the light that they use to when he was just elected in as the US President.

In fact we can say that the market have been rather “disappointed” with the way his administration is managing things.

Many in fact were expecting huge stimulus from the Trump administration at the start of this year. They were waiting for maybe a tax cut and maybe announcements of infrastructure spending. Not only are they absent, now Congress is arguing over health care at the expense of the American people and the insurers too as they cannot be sure of what is going to happen in the end.

If the health care debate does not end, we can be sure that the economic agenda will not start either.

Why? Because half of the cuts in the health care expenditure is suppose to fund the tax cuts that are going to be proposed.

With the issues that I have mentioned and the recent data coming out kinda weak, I do not expect the Fed to increase rates anytime soon.

This doesn’t bode well for the US dollars and with the UK, ECB and BOC being more hawkish, we can expect more greenback weakness going forward,

Trade well.

To your success!

Ardy Ismail

Pro Trader & Founder ForexAchievers.com 


Want to know how we would trade this setup and all future setups? Join us as a Premium ForexAchievers Member! ===> Click here!


Learn to use Technical and Fundamental Analysis in our Startup Guide & start making Pips!

Join us as a Basic ForexAchievers Member and get the 6 Modules FOREX NINJA STARTUP GUIDE plus Gain Access to the PROTECTED SECTION of the GLOBAL MARKET REVIEW posts!


 

By | 2017-07-19T11:49:43+00:00 July 19th, 2017|Categories: Forex Trading Signals, US Dollar|0 Comments

About the Author:

Ardy Ismail is a Professional Forex Trader specializing in the Forex, Gold and Stock market. He trades using both Technical and Fundamental Analysis and teach other traders how to trade using higher time frames and multiple time frames. He started trading the stock market in 1999. Seeing how trading Forex and the Gold market can be a lucrative business, he started trading these markets in 2008 and continues to do so till this day.

Leave A Comment

X

Forgot Password?

Join Us

Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.