The Risk-Off Trade: 9 Market Predictions For The Coming Week

in #money4 years ago

Friday marked what could be the start of a significant shift in the market following the jobs report. The dollar index rallied sharply and appeared to have put in a double bottom. The index has found a significant level of support around 92.50, and should it rally beyond 94; it would likely confirm that double bottom pattern and set up a run to around 96. The RSI also hit very sold levels around 17.50 and is now beginning to show signs of a reversal of the trend.

If this is the case, it could market the unwind of the risk-on trade.

USD Index Daily Chart

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