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  • Tuesday 16 July 2019

    Dollar Index Shows Strength After Strong CPI Data

    The dollar index has faced a lot of selling in the previous month until this month whereby the markets showed bullish signs on the dollar after the monthly and the quarterly CPI came out positive on Thursday last week which caused a bullish move in the index affecting most major currencies.

    DXY Technical Setup

    Below is the Technical Setup of the dollar index showing our bullish view of the dollar index based on the inverse head and shoulder pattern setup

    The bullish move on the dollar index this week will likely get to affect a number of currency pairs having the US dollar, we will look for a bullish UsdChf, UsdJpy,UsdCad and UsdMxn,  and a bearish move on currencies like EurUsd, NzdUsd, GbpUsd and AudUsd. 

    Sifiso Nkwanyana

    Author & Editor

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