The Dollar index was on a downward trend for the past month which change the past week with an upward movement that failed last Friday around the 96.65 are.
The pair is currently trading below the 200 EMA and near the 800 EMA. In the are is 0.5 fib which means that buyers have been exhausted and that there is not much potential for retracement.
We should watch the pair if it breaks below the 95.65 level the door will open for 95.00 area
Also there is critical news with US economy next week, we should this into consideration especially the FOMC Statement and the Federal Fund Rates.
Some Fundamentals:
- The record-breaking partial government shutdown will negatively impact growth in the first quarter of this year
- A slowdown in the US economy, compared to a stabilization of growth elsewhere, is likely to weigh on the US$ particularly in the second half of this year.”
The pair is currently trading below the 200 EMA and near the 800 EMA. In the are is 0.5 fib which means that buyers have been exhausted and that there is not much potential for retracement.
We should watch the pair if it breaks below the 95.65 level the door will open for 95.00 area
Also there is critical news with US economy next week, we should this into consideration especially the FOMC Statement and the Federal Fund Rates.
Some Fundamentals:
- The record-breaking partial government shutdown will negatively impact growth in the first quarter of this year
- A slowdown in the US economy, compared to a stabilization of growth elsewhere, is likely to weigh on the US$ particularly in the second half of this year.”