US Dollar Weakness

We side-swiped the U.S. Dollar weakness concern yesterday and focused on the EUR/JPY. Check out our signal which was sent to our clients all over the world.

But we can’t avoid the weaker dollar conversation altogether.  The struggling Greenback has been a hot topic in the Forex circles as the USD Index dropped below the big figure of 100.00 for the past 4 trading days in a row.

Concerns over Trump’s policies and his warning that the USD is already “too strong” has definitely put water on the fire of the strong dollar. Does this signal a retreat of the dollar bulls and a wake up from hibernation for the dollar bears?

The Peso Factor

The fire is not completely out on the strong Greenback just yet; as was made evident as the Mexican peso plunged against the USD after Mexico’s President said he would not meet up with President Trump.

Throughout the Presidential campaign, whenever the Peso would weaken against the U.S. Dollar, other currencies would follow this same trend. Now that the election is behind us, is the Peso still a barometer for the strength of the Grenback.

Time will tell. Our ForexSignal Trading Team is watching intently for changes in the market sentiment and trend.

Support and Resistance Levels

View the support and resistance levels for trading January 26-27^th.