U.S Dollar Near A 4 Week Low

Dollar Index Futures---The U.S dollar in the December contract is trading lower by 25 points currently at 93.60 right near a 4 week low possibly creating a double top around the 95.05 level as I am not involved in this market, but I'm looking at a possible short position in the days ahead.

The U.S dollar is trading below its 20 day but still above their 100 day moving average as this market has stopped its bullish momentum and now has a mixed trend with the next major level of support around 93.36 & if that is broken you have to think that the bearish trend could ensue.

The volatility in the U.S dollar is relatively low just like the rest of the commodity markets as we head into the holiday season as my only recommendation out of the currency markets is a bearish Mexican Peso which I've been involved in for over 2 months as I will keep a close eye on this market as a possible double top may have been created.

In my opinion for the commodity markets to start to increase there volatility and start some bullish trends you need a weak U.S dollar as this is the key influence on the commodity sectors going into 2018.




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