USDollar next week: Double top Pattern + Retail Sales

INDEX:DXY   U.S. Dollar Index
196 0 5
Next week, there is one piece of US data we should take a look :

- US Retail Sales.

In my opinion, I believe this data will be positive, with the pickup of US CPI             last week, Retail Sales would follow US CPI             and reflect the improvement of US consumer spending.

However, the problem is that US Retail Sales is released until Thursday, and how USDollar             performs from Monday to Thursday is a big question.

The 'sell-off" of Dollar after payrolls was explained mainly come from profit taking, and I think this should continue next week : IT 'S TOO SOON TO TALK ABOUT RATE HIKE IN SEPTEMBER.

Hence, I keep my cautious viewpoint about bullish trend of USDollar             , and I will take risk in continuing buying greenback.

- Technical Analysis

I see SMA50 + SMA100 converge t 96.28 : This is strong support.

While DXY             once rejects the key resistance at 98.15

The price action of DXY             set a case for DOUBLE TOPS PATTERN I SHOW ON THE CHART.

That why I believe USDollar             should fall from the resistance to finish the pattern, and retest the support 96.30
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out