You are viewing a single comment's thread from:
RE: Keep a close eye on US Dollar
Update on 26-Sep-18: The $USD has fallen below the neckline of the inverse H&S which gives its short-term target to be around 92.5. It should find some support there but if and when it falls below that level, then IMHO, the $USD is toast !
Update on 27-Sep-18: The $USD is making a strong recovery today and has managed to move back above the neckline (95.08 at time of writing). The key level to watch now is 95.0 and if it stays above this level, then the H&S pattern would become invalid and the $USD is likely to go up, at least in the short-term.
Update on 15-Oct-18: The $USD appears to be struggling to stay above 95.0 (it is $95.06 at the time of writing). This is a critical juncture. If it falls below this level and stays down, the days of the $USD as a reserve currency could be numbered.
Update on 31-Dec-18: The $USD is struggling to go higher than 97.50 (currently 96.25). If it falls below 95.00, it is likely to give long-term sell signal which could result in it losing its reserve currency status. The situation over the next few days is, therefore, quite critical in assessing its future.