‎US Dollar Index (DXY) Forecast: Weak EURUSD Now Supporting USD Upside

US DOLLAR INDEX (DXY) TALKING POINTS:

The ONE Thing: Say what you will about the US Dollar rally since mid-April, a great part of the move has occurred on the back of EUR shortcoming and this week denoted the most broad EUR decay of 2018 as the financial picture deteriorated and the decrease fears of the ECB washed up.

US Dollar Index Technical Analysis: Despite a fleeting pullback, DXY upside stays supported as the debilitating EUR/USD picture is supporting a potential move to 1.16/15 region or half of the 2017/2018 value extend.

Dealer Sentiment Highlight from IG UK: Sharp ascent in net-long positions supports facilitate EUR/USD (57.6% of DXY) drawback. The notion pictureis used as a contrarian specialized exchanging apparatus, which gets understanding from our Traits of Successful Traders inquire about

Later today, CFTC information will be discharged to enable dealers to comprehend what kind of capitulation (constrained/freeze offering) on the US Dollar has created in the course of the most recent week. What's more essential, will be to perceive how forcefully since a long time ago utilized assets may at present be on the US Dollar short exchange.

In the event that assets stay net long, which they likely are, there could be further upside to the US Dollar.