Weekly Report DXY: always short.

2019年9月9日

Last week the price of the dollar index respected the upper part of the channel and start renew the parth to the downside. The market is in a lateral movement in the 4h, opening on sunday with a huge upside gap, lets see what expect from the week ahead:

In the fundamental side:

The US-China trade talk resume achieve to finish, momentanly the inverted yield curve situation presented for a while, in the macro data the numbers are saying that there is no recession in sight, but there is $550 billions executed in tariffs to China products, in other words the world had a cut of $550 billion in the global cash flow and the Fed knows this and is taking on consideration the effect in the investment situation of the companies, so the market is still expecting one cut rate on this month, thus mean gas for the DXY to keep going lower.

In the technical side:

The price had rebound from the upper part of the weeky channel, right now the price is in a lateral movement so the price can move a little bit higher, but always looking for short signals, or just can keep moving lower. The marked lines are support areas where the DXY can find dificulty to keep going lower.