Dollar Likely to Break to Further Lows for These Key Reasons

DailyFX

- US Dollar failing at key support versus Japanese Yen, Euro at crossroads

- Strong forex correlations to US Treasury Yields help explain Dollar slide

- Until Retail FX sentiment shifts, Dollar’s slow grind lower likely to continue

Charts are viewable below.

Follow any updates on the Dollar, Yen, and other currencies via this author’s e-mail distribution list.

US Dollar Failing at Key Support versus Japanese Yen

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Dollar Likely to Break to Further Lows for These Key Reasons

Source: FXCM Trading Station Desktop, Prepared by David Rodriguez.

Retail FX Crowds Happy to Continue Buying into Dollar Weakness

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Dollar Likely to Break to Further Lows for These Key Reasons

Data source:FXCM Execution Desk data, Prepared by David Rodriguez

Follow any updates on the Dollar, Yen, and other currencies via this author’s e-mail distribution list.

Forex Correlations Summary

View forex correlations to the S&P 500, S&P Volatility Index (VIX), Crude Oil Futures prices, US Treasury Yields, and Spot Gold prices.

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Dollar Likely to Break to Further Lows for These Key Reasons

Data source: Bloomberg. Chart source: R SEE GUIDE ON READING THE ABOVE CHART

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.

Contact and follow David via Twitter: https://twitter.com/DRodriguezFX


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