Wednesday, 28 June 2017
US Dollar: 28 June 2017, 4.05pm Singapore Time
28 June 2017, 4.05pm Singapore Time
(Click on Chart above to Enlarge)
Attached above is the technicals for USD Index indicating the price actions of the US Dollar. My live warnings in end-2016 and early-2017, forewarning that the USD will sell off on FED tightening and FED rate hikes, is being enacted in the forex markets right now. Many people bought the USD expecting FED tightening and FED rate hikes to rally the USD, most of them are losing heavily per my warnings now. The technicals show you in addition where the classic bump-and-run using green lines had been conducted by the market, where the major trend breaks occurred and where successful backtest of selling was confirmed. In addition, a further yellow bear flag was formed and it is bearish and has broken down further. Expect 92.00-93.00 support band to be tested next.