Dollar: Weekly Forecast 20th – 24th Jan 2020

The dollar was mixed among the major pairs last week as it weakened at first but recovered strongly on the last trading day.The momentum of a bearish dollar failed to continue on and the price has broken above a 3-month falling trendline.The price will face a 1-month supply zone immediately and may pull back first before climbing further.We expect the dollar to recover more losses and rise towards the 3-month supply zone at 98.4.This will allow further retracement among the major pairs, leading to a better price to short the dollar later.

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