Dollar Weekly Market Analysis 7th - 11th Jan
Despite an unexpectedly high job number was reported during NFP, the unemployment rate jumped by 0.2% and Fed Powell talking down on its currency has caused the dollar to maintain its bearish stance.
As seen on the chart, the price as constantly breaks lower for every rising trendlines that appeared along the way.
Finally, a falling has formed while the price kept creating lower highs and lower lows.
The dollar is expected to continue falling towards 95 where it will meet with some very strong support.
As of now, it is very clear that the dollar is heading downtrend and it also seems that Donald Trump is not happy with how strong the dollar currently is.
As seen on the chart, the price as constantly breaks lower for every rising trendlines that appeared along the way.
Finally, a falling has formed while the price kept creating lower highs and lower lows.
The dollar is expected to continue falling towards 95 where it will meet with some very strong support.
As of now, it is very clear that the dollar is heading downtrend and it also seems that Donald Trump is not happy with how strong the dollar currently is.
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