Dollar Index January-March 2017 Forecast: bullish ranging within narrow s/r levels for the bullish to be continuing or for the correction to be started
W1 price is located above Ichimoku cloud in the bullish area of the chart. The price is on secondary ranging within the following narrow support/resistance levels:
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Sergey Golubev, 2017.01.02 07:49
Key Levels To Watch In The U.S. Dollar (based on the article)
"The chart below shows the former trading range between 92 and 100 in the U.S. Dollar Index. The dollar's break to the upside creates a bullish signal as long as the Dollar Index stays above the 100 support level. A strong break below the 100 level would be necessary to negate the bullish signal. A pullback or re-test of the 100 support level is certainly possible and wouldn't negate the bullish signal provided the Dollar Index doesn't break below the support."
"The long-term U.S. Dollar Index chart shows the former trading range and recent breakout. As long as the Dollar Index holds above the key 100 support, there is very little resistance overhead all the way up to 120, which marked the highs in 2001 and 2002. Due to its history and psychological significance, the 120 level may act like a magnet for the U.S. Dollar Index over the next couple of years."
Sergey Golubev, 2016.12.24 10:01
US Dollar Q1 2017 Forecast - Dollar Draws on Many Sources to Extend 14-Year High (based on the article)
Sergey Golubev, 2017.01.07 05:41
Weekly Outlook: 2017, January 08 - January 15 (based on the article)
The US dollar wobbled in the wake of 2017, torn between good and bad news. US Retail sales, consumer sentiment and PPI stand out. These are the highlights for this week.
The US monthly employment report showed a lower than expected job growth in December but wages registered a 2.9% annualized gain. The economy added 156,000 positions while expected to increase 175,000. The unemployment rate edged to 4.7% from 4.6%. However, wage growth was the most significant factor in December’s report as average hourly wages jumped 10 cents to $26, the highest gain since 2009, indicating the US labor market has fully recovered. The final report of 2016 also comes amidst a presidential transition period. Donald Trump has promised aggressive fiscal measures including tax cuts and higher domestic spending to boost economic growth beyond the mild expansion witnessed so far.
Sergey Golubev, 2017.01.07 09:44
Dollar Index - "Top-tier economic data will not enter the picture until late in the week. Retail sales, consumer confidence and PPI figures are all due to cross the wires on Friday, with consensus projections pointing to improvements all around. Such outcomes may offer a lifeline to the greenback much like the jobs report. However, there seems to be ample space for the resumption of profit-taking on long-USD positions before whatever support is to be found on the statistical front emerges."
Sergey Golubev, 2017.01.10 06:13
Dollar Index: long-term correction to 94, or tradable crises in 2017 (based on the article)
Sergey Golubev, 2017.01.11 08:07
US Dollar Index – Too Many Questions: breaking support level at 100 to below for correction? (based on the article)
Sergey Golubev, 2017.01.13 07:39
Dollar Index Technical Analysis: daily correction within the primary bullish trend; 100.72 is the key support level to watch (based on the article)
Daily price is located above Ichimoki cloud in the bullish are of the chart: the price was bounced from 103.82 resistance level to below for the secondary ranging correction to be started within the primary bullish market condition. Descending triangle pattern was formed by the price tobe crossed for the correction to be continuing, and Absolute Strength indicator is evaluating the trend as the ranging in the near future.
Sergey Golubev, 2017.01.15 06:22
Dollar Index - "Going into the new year, the standby narrative envisioned accelerating growth and bubbling inflation powered by a hefty dose of fiscal stimulus championed by the President-elect. This would spur the Fed to adopt a steeper rate hike path. Not surprisingly, this proved to be overwhelmingly supportive for the greenback and pushed it to the highest level in 14 years."
Sergey Golubev, 2017.01.21 16:46
Dollar Index - "Big-ticket fundamental news-flow does not enter the picture until Friday, when market participants will get their first look at fourth quarter US GDP figures. The annualized growth rate is expected to have slowed to 2.2 percent in the final three months of the year, down from 3.5 percent in the preceding period. Robust improvement in US data outcomes relative to consensus forecasts over the same period suggests analysts may be underestimating the economy’s vigor, opening the door for an upside surprise."
Sergey Golubev, 2017.01.28 14:50
Dollar Index - "The fundamental evidence seemingly points to a
steady US economy that is broadly in the same place as the last time
Janet Yellen and company sat down for policy meeting. Confirming as much
may do little to assuage concerns that this relatively rosy status quo
will not be shattered by a sharp pivot on the fiscal side."