Dollar Weekly Market Analysis

9 dic 2018

The dollar was not able to break higher since mid-November and is seen weakening amid lowered expectation on rate hikes.
The dollar has quietly crept below a rising channel, signalling that the price may start to weaken.
The Fed members are now feeling that the current rate is either close to neutral or has already achieved neutralisation.
The means that the pace of the rate hike will be slower than what the market has initially anticipated.
That in itself also provides an opportunity for other central banks to catch up with the Fed on interest rate and may cause the dollar to start weakening against other major currencies as a result.

10 dic 2018

Nota

Glad to see that the dollar retraced for previous loss first.
97.2 should be the extreme high if we are bearish on dollar this week.

12 dic 2018

Nota

Dollar interestingly climbed back to its previous high earlier than expected.
The current demand zone will be very tough to break through.
The most likely move is that price will still drop towards 96.6.

14 dic 2018

Nota

The dollar was rejected for the 3rd time at 19 month demand zone above 97.5.
The market sentiment is certainly very uncertain.
From my perspective, the dollar might continue to trade within the range between 95.5 and 97.5.
That would mean that the dollar is at its extreme high and may begin to fall.
Let's wait and see the weekly closing candle.