SamKent
Long

Dollar Index- Long Term Analysis

INDEX:DXY   U.S. Dollar Index
24 0 1
Looking at the monthly chart, we have broken through the wedge resistance zone in September backed by a hawkish Fed. The wedge has been since retested in October and has held up to push the dollar higher, backed by an even more hawkish Fed. Therefore, all sings point upwards, but momentum is looking overbought in the short term, therefore, we'd be expecting a slight correction by the end of the year, followed by a new dollar rally in Q1 of 2015. Needles to say, this kind of technical plan is absolutely dependent on future Fed statements, so we'd be monitoring these closely.
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