As you know, the US Dollar is the global reserve currency. It is the most significant currency in the modern world. Apparently, any changes in the US politics or economy influence the entire world through the US Dollar since many national currencies around the globe are pegged to the US Dollar. Even almost all the Forex pairs (excluding cross pairs) include it.
Apparently, everyone is interested in leaning how to foresee the future behavior of the currency. What are the near-term prospects of the US Dollar?
Let’s ask Masterforex-V Academy, which has been a real expert in currency trading from years.
Masterforex-V Academy on Mid-Term Prospects of USD Index
The mid-term technical analysis conducted by the trading experts of Masterforex-V Academy indicates the following:
The price is currently forming wave B of level Monthly 2 started from 84,92. The wave is represented by a downswing of a smaller-scale downtrend. The targets are:
81,970=50%;
82,666=62%;
83,528=76%.
The starting point for the downswing is 81,485. The price has already come close to the sloping channel defending the entire big-scale uptrend. The channel is built through 79,020 and 79,650. If the price overcomes and consolidates above 80,765, we may see further strengthening up to the sloping channel built through 81,485 and 81,350.
