As we have left bottom of the mid-term channel there is possibility of breakout. Currently we have broke the resistance line and after fast growth pulling back to it. Wish it is gonna work as the resistance line this time. In short term techical analysis show no signals for valid buy entry. However, on 1W and bigger timeframes price is at the bottom of medium-term uprising channel. The other one is falling long-term channel that has begun in 1990. Hence, entering it would mean a lot trouble for USD.
But I consider such fundamental factors, that should be more crucial rather than graphical representation:
1. USA is #1 in consumer spendings across the nations. It means that from foreign institutional investors perspective the US market is the best place to engage in as it offer reach customers, strong demand and more stable earnings.
2. I find limited effect of awful politics rhetoric and decisions this year (China-US trade war). Hence, investors either find these actions as a poor criteria nor they can not find better place to invest in.
3. EXY has found selling zone and broke below uprising channel for a short term. Currently it is trading at the upper line of falling channel. If it come inside there is 112 price area that is gonna be the main support. Euro is another reserve currency, the main rival of USD. Hence, falling euro mean rising dollar.
Or CNY is going to join the club this time?
But I consider such fundamental factors, that should be more crucial rather than graphical representation:
1. USA is #1 in consumer spendings across the nations. It means that from foreign institutional investors perspective the US market is the best place to engage in as it offer reach customers, strong demand and more stable earnings.
2. I find limited effect of awful politics rhetoric and decisions this year (China-US trade war). Hence, investors either find these actions as a poor criteria nor they can not find better place to invest in.
3. EXY has found selling zone and broke below uprising channel for a short term. Currently it is trading at the upper line of falling channel. If it come inside there is 112 price area that is gonna be the main support. Euro is another reserve currency, the main rival of USD. Hence, falling euro mean rising dollar.
Or CNY is going to join the club this time?