DXY Short (H&S)

١٣ ديسمبر ٢٠١٧

As predicted last week, DXY Daily Head & Shoulders is forming solidly now. CPI rates being lower than the forecast (actual today was 0.1%, with the forecast and previous both being 0.2%) is bad for the dollar, which dropped it from 94.10 to 93.81 and allow for a bearish start for today's daily candle, which is confirming our right shoulder right where expected on the chart that was analyzed previously last week and an updated analysis being shown above. At 2:00 PM EST we also have the FOMC Statement & Federal Funds Rate, both of which will impact the dollar pretty decently. If those results come more dovish (basically lower, which can cause very bearish reaction in the markets) than the forecast of <1.50% (previous being <1.25%), we can expect a heavy drop in the dollar today. US President Trump also has a tentative speech today about tax reform, which can potentially impact the dollar and markets as well.

TLDR; Dollar might drop heavy soon. Since it's such a topic of discussion too, it might move enough to cause a, likely bullish, reaction in the cryptocurrency markets.