US Dollar (DXY) had a massive impact by the result of the Presidential Election held in 2016 which was won by the current President Donald J. Trump. Traders witnessed it as the price rose in a strong Bullish momentum from 2016 November 09 to 2017 January 02 finally marking the Yearly High at 103.82.
Then since the beginning of the year 2017 US Dollar was getting weaker gradually while making some consolidation ranges on the way and now on the 2nd of August 2017 it is near the 2-Year Low Resistance at 93.00 currently testing it.
Although the Technical Analysis shows an impending reversal of the price, it is yet a critical point how the market fundamentals will play in the drama with these present major political and economical events like Trump-Putin Allegations, North Korea-US Nuclear disputes and Federal Budget cutting scenario.
A clear bounce or a breakout of the YR at 93.00 along with corresponding positive or negative market fundamentals will clear the troubled atmosphere and will provide an explicit sense of the future trend of the US Dollar.
Then since the beginning of the year 2017 US Dollar was getting weaker gradually while making some consolidation ranges on the way and now on the 2nd of August 2017 it is near the 2-Year Low Resistance at 93.00 currently testing it.
Although the Technical Analysis shows an impending reversal of the price, it is yet a critical point how the market fundamentals will play in the drama with these present major political and economical events like Trump-Putin Allegations, North Korea-US Nuclear disputes and Federal Budget cutting scenario.
A clear bounce or a breakout of the YR at 93.00 along with corresponding positive or negative market fundamentals will clear the troubled atmosphere and will provide an explicit sense of the future trend of the US Dollar.