Sforex

USDollar next week: Potential Breakout

INDEX:DXY   U.S. Dollar Index
258 0 7
I begin with Technical Analysis first.

Look at on the chart:

USDollar             index currently stops at SMA200: The signal support: any break SMA200 always sends a strong signal for trend reverse.

And SMA200 is in-line with an ascendling trend line :

This trend line + the descending trend line shape a wedge pattern : Any break from this pattern could mark for a great incoming decline.

I especially emphasize the price action of USDollar             next week. I hope it recovers from this support.

If not, we should SELL USDollar             across the board.

Next week, key events:

- US Durable Goods Orders

- US GDP (P)

I hope those data could consolidate the hope in greenback.



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