Dollar: Weekly Forecast 17th - 21st February 2020
The dollar rose for the 2nd consecutive week and reached a 4-month supply zone.
Fed Chairman Powell was hawkish in his last testimony and inflation rate hit a 15-month high.
Combining the development of the technical price and the underlying fundamentals, the dollar will eventually break new high again.
However, the dollar might be too overbought and may pull back very soon in the coming week.
Wait for a pullback towards the 98.5 region before buying the dollar again.
Fed Chairman Powell was hawkish in his last testimony and inflation rate hit a 15-month high.
Combining the development of the technical price and the underlying fundamentals, the dollar will eventually break new high again.
However, the dollar might be too overbought and may pull back very soon in the coming week.
Wait for a pullback towards the 98.5 region before buying the dollar again.
