FX CURRENCY WATCH by Keith Raphael
Forecast Seven Year Dollar Bull Market is complete … Medium-term Consolidation Ahead
In addition, our first ever technical forecast for cryptocurrency Bitcoin
As discussed in the last four quarterly FX Trader Magazines, the U.S. Dollar will be moving from the ongoing forecast seven-year bull market to a top building pattern of various types depending on the currency as well as depending on the other assets. Te sideways consolidation has mixed the technical aspects of the Euro/Dollar in particular, reverting them to
14 FX TRADER MAGAZINE January - March 2018
neutral. In addition, the neutral status is accompanied by the classic currency and
commodity asset rotation
throughout their individual, unique consolidations, further clouding the underlying trends and correlations.
In this article, we will remain focused on the long-term outlook in these assets and refine the timing. We
continue to believe that the U.S. Dollar is the lead indicator for [non- equities] asset classes, and the higher than normal volatility of 2017 will continue to subside through the middle of 2018.
Lastly, we will introduce Bitcoin to the mix of our medium-term technical forecasting despite its shortcomings.
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