There was a US rate hike last week, and more promised for 2018, but the best candle the US$ index could manage to print was an indecision-style long-legged Doji. Really, is that it? Granted, it was bullish coloured but it also failed to make any decisive breakout from the recent Bear Flag pattern. Thus, we have, at least, another another week of watching to see which way this index will break!
USDX weekly: still range bound on declining momentum despite the US rate hike. Watch trend lines for any new momentum-based breakout:
USDX daily: watch the Flag trend lines for any new breakout:
EURX weekly: range-bound here too. Watch trend lines for any new momentum-based breakout:
Calendar: there isn’t a whole lot of data lined up for next week and things might slow a bit with Christmas but watch out for any impact from US Tax Reform bill news.