I am SHORT on USD because of the following reasons:
- Price is going in a downward channel - Price respected the channel, even with the high volatility today - Price is creating lower highs - Price is moving below 200 and 100 Moving Average which indicates a bearish market. - FED introduced Average Inflation Targeting, this means that there can the inflation in the US can be higher than the normal 2% mark, thus dragging the Dollar down. - The huge debt (more than 7 trillion Dollars) of the US is worrying investors. - Mixed results today with the GDP slightly better but employment rate slowing.
Let me know what you think in the comment section.
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