Futures Commentary and Analysis

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U.S Dollar Hits A 5 Week Low
Michael Seery - IF - Thu Nov 23, 10:18AM CST

Dollar Index Futures---The U.S dollar in the December contract is trading lower by 75 points currently at 93.10 right near a 5 week low possibly creating a double top around the 95.05 level as I am not involved in this market, but I'm looking at a possible short position in the days ahead.

The U.S dollar is now trading below its 20 & 100 day moving average as this market has stopped its bullish momentum and now has turned bearish with the next major level of support around 92.60 & if that is broken you have to think that the bearish trend could ensue.

The volatility in the U.S dollar is relatively low just like the rest of the commodity markets as we head into the holiday season as I will keep a close eye on this market for a sell once the chart structure improves.

In my opinion for the commodity markets to start to increase there volatility and start some bullish trends you need a weaker U.S dollar as this is the key influence on the commodity sectors going into 2018.

TREND: MIXED

CHART STRUCTURE: SOLID

VOLATILITY---LOW

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