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All Eyes on the US Dollar Heading into Job Report Catalyst

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The end of the quarter leaves the Dollar at levels last seen in mid-Oct 2015, but more relevant, is that the price structure is pressing into a key support zone between 94.30 and 92.60, which if penetrated, will argue that The Dollar Index (DXY) has completed a 12-14 month Top Formation. Such a set-up will trigger a medium-term, downside projection into the 88.00 target zone, and will remove stiff head winds from the dollar-denominated commodity space.

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