The USDOLLAR Heads for its Worst Week of the Year
The 
USDOLLAR is having a brutal week after Tuesday’s emergency rate cut by the Federal Reserve – with markets expecting another 50 basis points cut on the bank's March 18th meeting.
Carry trades unwind and the index breaks below 12.250, which exposes last month lows (12.200), closely followed by December’s low (12.181).
Technically speaking these levels appear distant as it trades to extremely oversold territory. As such it could react back towards 12.271, but a massive catalyst would be required in order to challenge today’s high (12.300).
USDOLLAR is having a brutal week after Tuesday’s emergency rate cut by the Federal Reserve – with markets expecting another 50 basis points cut on the bank's March 18th meeting.Carry trades unwind and the index breaks below 12.250, which exposes last month lows (12.200), closely followed by December’s low (12.181).
Technically speaking these levels appear distant as it trades to extremely oversold territory. As such it could react back towards 12.271, but a massive catalyst would be required in order to challenge today’s high (12.300).
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Feragatname
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Follow and Trade this analysis from your Charts. FXCM now Integrated with TradingView. Contact FXCM for more information.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.