The US dollar index is currently showing a tendency to fluctuate around its peak due to the recovery momentum from the previous news approaching its conclusion. Therefore, the price trend will move sideways, form a pattern, and then reverse. Hence, the primary trend in the short term is expected to be a downward trend. This will directly impact the prices of gold and oil.
The price trend is likely to retest the peak area while also testing the decrease around 104.3. You will be surprised by the decline of the US dollar index after the price confirms this reversal.
Therefore, adhere to strict risk management rules to avoid the maximum risks posed by the strong and unusual market volatility. And do not forget to anticipate the next update with detailed trends of the US dollar.
Wishing investors insightful and successful investment deals!
By Pham Thanh Bien
