Dollar Bears in Force
Both technically and fundamentally, the US Dollar is in trouble.
Both Kovach Momentum Indicators are deeply bearish, and we've been encroaching on the lower bound of the Reversals Indicator for some time. You can read more on the technicals here.
As for fundamentals, the fed has been extremely dovish lately, and this is likely to continue with the next Fed chair. Unless there is a breakthrough in the tax plan or a bumper number in non farm payrolls next week, we can expect this trend to continue. The Federal Reserve keeps bemoaning lackluster inflation and hopes for a December rate increase have fallen somewhat.
If you're interested in trading using the Momentum and Reversals indicators, try them out!
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