Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Charts suggest dollar may face critical point this week

Published 03/27/2017, 07:29 AM
Updated 03/27/2017, 07:29 AM

Investing.com – Technical charts for the dollar suggest the currency could face a critical juncture as soon as this week.
The 20-year weekly chart shows a steeper upward trend for the dollar from early 2014.
If this uptrend breaks down, the dollar will very likely have signaled its top within its longer, 15-year super cycle.
Charts of dollar movements over the past several months indicate the U.S. currency is at a short-term inflection point.
It may be forming a double bottom pattern from which it will bounce off.
The alternative would be for it to break down creating a failed trading cycle.
We are either on day 35 of the current trading cycle or on day 2 of a new trading cycle.
This suggests the direction the dollar takes will be decided rather soon.

Latest comments

Note taken
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.