FX TECHNICAL OUTLOOK by Keith Raphael
The Final Leg of the Forecast Seven Year Dollar Bull Market Continues to Form
We continue to forecast the resolution of the disjointed global puzzle of the last year and a half as the Dollar leads a reversal through early 2018
As discussed in the last two quarterly FX Trader Magazines, the U.S. Dollar has made only a brief stab at new highs against the JPY, GBP, and CHF. The completion of the forecast seven-year rally in the U.S. Dollar with a culminating decline of another eight percent in the EUR/ USD throughout the first quarter did not transpire. Te sideways consolidation
20 FX TRADER MAGAZINE July - September 2017
is neutralizing the bullish Dollar/ bearish Euro long-term momentum and therefore we are within the discussed critical juncture in the timing of our long-term forecasting. In addition, the neutral
status is accompanied by the
classic currency and commodity asset rotation throughout their individual consolidations, further clouding the
underlying trends and correlations.
In this article, we will remain focused on the long-term outlook in these assets and refined the timing. We continue to believe that the U.S. Dollar is the lead indicator for all asset classes across the board, and the higher than normal volatility of 2016 will continue to subside into early 2018.
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