Hello everyone,
I am SHORT on USD because of the following reasons:
- Price is going in a downward channel
- Price respected the channel, even with the high volatility today
- Price is creating lower highs
- Price is moving below 200 and 100 Moving Average which indicates a bearish market.
- FED introduced Average Inflation Targeting, this means that there can the inflation in the US can be higher than the normal 2% mark, thus dragging the Dollar down.
- The huge debt (more than 7 trillion Dollars) of the US is worrying investors.
- Mixed results today with the GDP slightly better but employment rate slowing.
Let me know what you think in the comment section.
I am SHORT on USD because of the following reasons:
- Price is going in a downward channel
- Price respected the channel, even with the high volatility today
- Price is creating lower highs
- Price is moving below 200 and 100 Moving Average which indicates a bearish market.
- FED introduced Average Inflation Targeting, this means that there can the inflation in the US can be higher than the normal 2% mark, thus dragging the Dollar down.
- The huge debt (more than 7 trillion Dollars) of the US is worrying investors.
- Mixed results today with the GDP slightly better but employment rate slowing.
Let me know what you think in the comment section.