There's very little reason now that the dollar can continue to maintain bullishly and break new high any further.
The market has given up the thoughts of any rate hike this year and instead, expecting about 2 rate cut this year.
The trade war against China has proven to bring devastating effect onto the US economy and now the Fed can no longer remain hawkish as it used to.
The dollar is also seen peaked at a 618 level, consistently rejected since late April and then the price broke a new low.
The dollar has completed the first wave of a bearish trend but the 2nd one has yet to even begin.
All eyes are now on the FOMC statement this week.
The market isn't expecting a rate cut just yet but the tone of the Fed will be extremely crucial to setting the tone of the dollar performance in the near future.
The market has given up the thoughts of any rate hike this year and instead, expecting about 2 rate cut this year.
The trade war against China has proven to bring devastating effect onto the US economy and now the Fed can no longer remain hawkish as it used to.
The dollar is also seen peaked at a 618 level, consistently rejected since late April and then the price broke a new low.
The dollar has completed the first wave of a bearish trend but the 2nd one has yet to even begin.
All eyes are now on the FOMC statement this week.
The market isn't expecting a rate cut just yet but the tone of the Fed will be extremely crucial to setting the tone of the dollar performance in the near future.
