WallStForMainSt: Will The US Dollar Index Fall Further Down to 79?
The US Dollar Index is currently hovering around 89. Jason Burack of Wall St for Main St shows how on the 2 year US Dollar Index chart there's no major support levels below 89 but on the 5 year chart and the Max (11 year) chart of the US Dollar Index on Yahoo Finance how there's not major support levels for the US Dollar Index until around the 79 level.
Do you think the US Dollar Index will fall down to 79 or will new Fed Chairman, Jerome "Jay" Powell or the ESF or other Plunge Protection Teams (PPT) save the US Dollar from falling further and produce a miraculous rally?
It's also strange how the correlation in the past where rising interest rates meant a strong US Dollar has seemed to stop working. Now, despite rate increases in 2017 the US Dollar has weakened pretty extensively. This is despite the Bank of Japan and the ECB doing a lot more QE than the Fed in 2017.
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