Sforex

USDollar: Market punishes greenback post FOMC Minutes.

INDEX:DXY   U.S. Dollar Index
87 0 3
I am not surprised about great falling of USDollar             recent days.

Market punished greenback after dissappointed Meeting, I foresaw this when I post this article:



In my opinion, I think most investors have had wrong judgement about the Meeting : The rate hike decision is on table: It's still possible in this year.

However, we cann't stop the profit taking and risk aversion.

In the long term, I still put my faith in USDollar             , and investors around the world is retreating from EM markets and bring Dollar back to mainland.

At least, for the being time, the correction should favor but is limited.

- Technical Analysis

Look at on the chart, DXY             moved below SMA100, SMA50, EMA50, and Kumo cloud.

It is on the way to SMA200 : very strong support.

I don't believe DXY             could break SMA200 : the test around SMA200 is a chance to BUY DOllar at lower level.
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