Sforex
Long

USDollar: The power of greenback returns.

TVC:DXY   US DOLLAR CURRENCY INDEX
47 0 1
It was two months DXY             sideways in a range between 97.50 and 99.50

And it's also holding above ascending trend line.

I think the sideways would finish in this week with many strong incoming data.

- FED Meeting
- BOJ Meeting
- US GDP (Q4)
- EZ CPI            

Here is my opinion :

+ FED Meeting : a neutral stance likely is expected.
+ BOJ Meeting: I expect BOJ would increase its stimulus
+US GDP (Q4) : Actual data would beat the consensus. I expect US GDP prints at 1.6%
+ EZ CPI: ECB has right reason in preparing for more stimulus last meeting. EZ CPI             will confirm for ECB view. Negative number.

I bet on bullish view for DXY             this week. The uptrend will be mainly contributed by the decline of Euro             and Yen.

- Technical Analysis

Look at on the chart, strong resistance at 99.50 is captured DXY             . I see DXY             had a great effort to break this resistance last week. I think DXY             has enough momentum to break this resistance.

Watch RSI indicator: I split this RSI line into two zones: Bullish zone and bearish zone.

A move into bullish zone is a signal for more gain.

A bounce back to bearish zone is also a signal for more drop.

I think DXY             would react in bullish zone next week.

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