Dollars Setup to A New High (Monthly TF Analysis)
If we zoom out and see from monthly chart. We can see that dollar index is retesting its lower channel. On top of that the price is fully retrace back to 2016 Nov low during US election.
To setup dollar to hit new high in next 6-9 months, price should respecting lower channel and uptrend trend line, we can expect Dollar to create a new high in next 6 months. July is the key month to watch. Once break 95 area, price expected to roll down to 92-93 to test support.
With fundamentally US Fed interest on rate hike, at least one more and possible two more hike, dollar has an attractive setup to buy. Big players seem like double dump their position before picking up cheaply and ride another super-uptrend.
To setup dollar to hit new high in next 6-9 months, price should respecting lower channel and uptrend trend line, we can expect Dollar to create a new high in next 6 months. July is the key month to watch. Once break 95 area, price expected to roll down to 92-93 to test support.
With fundamentally US Fed interest on rate hike, at least one more and possible two more hike, dollar has an attractive setup to buy. Big players seem like double dump their position before picking up cheaply and ride another super-uptrend.