Forex Strategy Video: One Step Into a Dollar Collapse or Another False Break?
• Looking more broadly, the DXY Dollar Index didn't break and other dollar-based pairs are more restrained
• Despite the precarious technical picture, fundamentals - volatility, yields - offer a brighter outlook
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The US dollar's painful stumble last week has yet to turn into a full-blown selloff. Will it? Where the EURUSD marked a significant break above 1.3850 and the Dow Jones FXCM Dollar Index broke a notable trendline support, other majors were kept in check and the DXY wouldn't offer up the same isolated rebuke for the greenback. More important than technical breaks now (even major ones) is the potential for follow through. That falls to fundamentals as much as market conditions. We look at the dollar and its potential specifically in today's Strategy Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.