Dollar - Weekly Forecast 4th - 8th Feb
The dollar is clearly bearish last week, but the bearish movement has stopped after it got supported at the 3-month demand zone.
The price is most likely to range downwards to 95 before it continues to climb higher into the supply zone above 95.6.
Although the NFP figure was extraordinary good, unemployment has begun climbing, the US government remains shut down, and the Fed is becoming reluctant to raise interest rate further.
My point of view is that the dollar may have peaked, the trend has just begun reversing and the dollar will fall in a staggered manner, slow but eventually.
The price is most likely to range downwards to 95 before it continues to climb higher into the supply zone above 95.6.
Although the NFP figure was extraordinary good, unemployment has begun climbing, the US government remains shut down, and the Fed is becoming reluctant to raise interest rate further.
My point of view is that the dollar may have peaked, the trend has just begun reversing and the dollar will fall in a staggered manner, slow but eventually.
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