#DXY Dollar seeking support in fundamentals
#DXY Dollar seeking support in fundamentals
Again the dollar depends on limited data that indicate the direction of the US economy, home sales and durable orders this week; consumer confidence, GDP and manufacturing PMI next week.
For this week the forecast data may not be very encouraging, the dollar is could keep under the range of the moving average of 200 periods (MA200) and the bottom of the long-term bullish channel. The data next week could improve prospects, returning to MA200 or upper; otherwise, the fundamentals could further increasing uncertainty, causing a rupture of the channel in search of support in 96
Again the dollar depends on limited data that indicate the direction of the US economy, home sales and durable orders this week; consumer confidence, GDP and manufacturing PMI next week.
For this week the forecast data may not be very encouraging, the dollar is could keep under the range of the moving average of 200 periods (MA200) and the bottom of the long-term bullish channel. The data next week could improve prospects, returning to MA200 or upper; otherwise, the fundamentals could further increasing uncertainty, causing a rupture of the channel in search of support in 96
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