The trend line still supports the dollar. In the last pullback of the dollar, we see that the withdrawal stopped at the 61.8% Fibonacci level, which may be a sign of a slowdown in the growth of the dollar index. This week we should pay attention to see if the index will form a new higher high above the 107.40 level. If we are stationed in that zone, we can expect a continuation of growth towards the previous high at 109,290. For a bearish option, we need a lateral consolidation in the range of 105.50-106.50, which would put pressure on the lower trendline. Then, a break below and further retreat to the 103.50 level could happen.
Hi my friend How do you evaluate the new outlook with the falls of the past two days? thank you so much master
Aleksin_Aleksandar
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@MEHDI118, I don't think this decline will last long, maybe a month at the most. Despite the slowdown in inflation compared to the previous month, I think the Fed is still very hawkish in order to bring inflation down to 2%. A weak dollar will only increase inflation, and that's not what the Fed wants. In the long term, the dollar is long, perhaps up to 120.00. Winter is coming for the euro and increasing electricity and natural gas problems. It will be very interesting.😁 This is my view, it doesn't necessarily mean it will be 100% correct.
MEHDI118
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@Alex_master_forex, Excellent and bright👍🏻🙏🏻 Thank you very much for your attention
How do you evaluate the new outlook with the falls of the past two days?
thank you so much master