Forex mkt price movement and volatility are compounded weekly monthly, quarterly and yearly ,This week I will keep my focus on the weekly trend as I bring to the fore the weekly technical forecast and ichimoku trend analysis.
The weekly trends and development for the week 13 / 06 / 2016 and my point of view on trending currency pairs; price action, what has happened in the mkt in past week and what may likely be installed for the week ahead.
Reviewing the US dollar index as we all understand that all major currencies trade against the US dollar, so I found it informative and valuable analyzing the US dollar index from week to week to determine its weakness and strength and also gauge mkts trend direction for the week.
The dollar index resumes uptrend after trending support at 93.40 to close at 94.65 last week and Major economic event from the US last week was Yellen speech in Philadelphia which highlighted downside risks to the US economic outlook .
measuring dollar index against bracket of currencies , New zealand remained the top gainer together with Swiss franc , Canadian dollar and Japaneses yen while and Gbp continually depreciated .
This week the dollar index …