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Dollar: Weekly Forecast 9th - 13th March 2020

TVC:DXY   미국 달러 인덱스
The dollar plunged for a second week and the had the biggest dropped in a week in 4 years.
The acceleration of the slide was most definitely caused by an emergency rate cut by the Fed.
However, the US market labour posted strong employment numbers and a drop in the unemployment rate back to an all-time low.
The dollar has probably gone too far into an oversold zone and a pullback should be taking place due to demand from a 13-month low.
Nevertheless, the dollar might have turned technically bearish as it broke below the bottom of a 21-month rising channel.
This week, we expect the dollar to pull back towards a short-term supply zone just above 97.
However, should the price continues to fall, the next target will be the 17-month demand zone around 95.
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