Andy Hecht

Top 3 Ranking in Commodities, Metals & FX --SeekingAlpha

Reversal in the dollar on the weekly chart

The dollar index appears poised to make a bullish key reversal trading pattern on the weekly chart this week.

Source: CQG

The weekly chart highlights that the index fell to a low that was lower than the previous week, and closed above the prior week’s high.

This type of technical trading pattern could lead to a new high in the index and perhaps a significant short-term move on the upside. A higher dollar is likely to have a significant impact on the prices of commodities and other assets over coming sessions. 

Andy Hecht covers Commodities and Forex as one of the original contributing analysts at FATRADER. A former senior trader at one of the world’s leading commodities trading houses, Philipp Brothers (now part of Citigroup), Andy has worked and consulted for banks, hedge funds, and commodities producers and consumers around the world for over 35 years.
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