Another week another great story coming out of the USD. Just when things start to look a little predictable the Trump factor blows it out of the window.
The week ahead looks to be an interesting one with plenty of speculation over where the USD will move. My view is that there won't be too much of a news story to come from the accusations against Trump. In saying this I will be watching the news coming out and the charts very close.
I have turned to the technical's for my trading decision's and last week placed some orders on the USD to go bullish. I believe the USD has bottomed out for the year and with some decent data coming out last week I'm looking for a stronger dollar. I believe that the FED will increase the interest rate. I believe that the analysts will change their view from between 60%-75% from the news sources I have read, close to the 90% before the news stories before the weekend.
At the end of the day I believe I need to trade solid data and not unconfirmed, speculative news. If the news story turns out to have some substance behind it I will change my trading stances later in the week but for now I believe the dollar is going Bullish.
I am looking for a reversal in the DXY and for it to head back to the 100.0 point or beyond.
The week ahead looks to be an interesting one with plenty of speculation over where the USD will move. My view is that there won't be too much of a news story to come from the accusations against Trump. In saying this I will be watching the news coming out and the charts very close.
I have turned to the technical's for my trading decision's and last week placed some orders on the USD to go bullish. I believe the USD has bottomed out for the year and with some decent data coming out last week I'm looking for a stronger dollar. I believe that the FED will increase the interest rate. I believe that the analysts will change their view from between 60%-75% from the news sources I have read, close to the 90% before the news stories before the weekend.
At the end of the day I believe I need to trade solid data and not unconfirmed, speculative news. If the news story turns out to have some substance behind it I will change my trading stances later in the week but for now I believe the dollar is going Bullish.
I am looking for a reversal in the DXY and for it to head back to the 100.0 point or beyond.