Hi, I make a Swing trading signal forecast to EURUSD. The US Dollar was recently much oversold in the last couple of weeks. Across Asset Allocation, some Seasonals and COT Commercials I see Dollar advancing. So my target is around 1.1000 for the EURUSD in the next few weeks. The minimum target is around 1.1070 and it can go below 1.0980 on lower end. This is confirmed also by other other pairs to the USD. So the NZDUSD should be lower more than 2% from the current level at 0.5980 spot. The DXY Dollarindex could rise to 103.7 level with 102.5 minimum target and on the upper side max. to 106.4. My opinion.
According to AUDJPY and NZDJPY this week to begin next week the USDJPY should advance even more. Target is here something around 149.20 to 151.00. Overall the US Dollar should advance across lots of pairs in the next weeks to last week of this May. My opinion as trade idea.
Although it might move higher somewhat $DXY is in a correction to downtrend from mid Jan. Once it is over downtrend likely will resume - maybe even taking out lows near 90.
Am short the Dollar and long most currencies. All markets have cycles and Dollar been at highs long time.
You were right directionally about the US dollar. I guess the fly in the windscreen is the 10 year rates continuing to rise. That's got to be a problem soon for the Trump admin.
I do not think the strength of the US Dollar is already over what we have seen last days. In the next few weeks I still expect prints on EURUSD lower than 1.0950 or even below 1.0900 I can imagine. I took some profit yesterday but I am still bullish the DXY Dollarindex. Usually it should go to 103.70 level around, so we are still far away from that. So I think EU will come down further. Actual print of EU at 1.1189 is just contrary move inside a larger downtrend I assume.