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source: FxWire Pro

Economic Calendar - Market Movers 

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Expert View

US Dollar: Mid Year Review

CURRENCY ANALYSIS US Dollar Mid Year Review

Although the Global Currency Market remains very quiet during the last few months, there are some significant, medium-term developments to be aware of over the next six months. In our Long-term Outlook in FX Trader Magazine from the Jan/Mar 2014 issue, we stressed, and continue to stress, the long-term appreciation of the U.S. Dollar. Of the four majors [EUR, JPY, GBP, and CHF], only GBP$ has strayed from the bullish Dollar long-term trend.

Although another currency, the Swedish Krona, is not considered a “major”, I believe that it is only second to the Swiss Franc as a strong indicator of future direction, and is showing that indication over the last month.

GBP/USD Outlook

In January we forecast a further decline to 1.4270 through March 2015. Our outlook though was terminated by the monthly close in January above 1.6380. We are presently at the resulting medium-term objective and strong long-term resistance at 1.7045. 

 

 

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