The dollar set for more downside!

TVC:DXY   U.S. Dollar Currency Index
The Dollar is slightly mixed against G10 currencies, but lagging vs precious and base metals, like Gold , after the latter partly due to strengthened forecasts of strike action at BHP’s Spence and Escondida mines in Chile after the rejection of a contract offer.

Conversely, spot bullion has taken advantage of softer US Treasury yields and a flatter curve that are keeping the Greenback capped in wake of last Friday’s disappointing retail sales data to breach a key technical level that was protecting Usd 1850/oz (200 DMA at Usd 1845.98), with bulls now eyeing another upside objective in the form of a declining trend-line that crosses the y axis around Usd 1858. 40 .

Back to the dollar, 90.500 in the index has not been reclaimed and 90.153 may offer some support ahead of 90.000 on any further pull-back through the prior session low (90.278) as this represents the midweek base outside of the 90.429-265 range thus far. Ahead, NY Fed manufacturing, NAHB and 3 Fed speakers including current FOMC voter Bostic twice.

Overall further downside is expected long-term for the index. 88.00 is a very modest target over the next coming weeks.
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great work
+1 Reply
Forex-Traders-Uk bappykhalidhasan0
@bappykhalidhasan0, Thanks! :)
Excellent Work
+1 Reply
@AnnaLenzi, Thanks :)
interesting outlook :) thx for sharing
+1 Reply
Forex-Traders-Uk jojofang0901
@jojofang0901, Cheers Jojo! :)
Thanks !
+1 Reply
@YMGroup, Thanks for the comment
nice TA :)
+1 Reply
Forex-Traders-Uk AtlasTrades
@AtlasTrades, Thanks brother :)
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