The recent dollar rebound is becoming an “overcrowded trade”, but there is a “final oomph to come,” Robin Griffiths from Cazenove Capital told CNBC. The US Dollar Index could push toward 90 points over the next few months, he added.
Once done with viewing the video, take a moment to also look at Adam Hewison’s charting analysis of the dollar. The link is at the bottom of the post.
Also considering the short-term technical picture of the US Dollar Index, Adam Hewison (INO.com) provides a brief video analysis, concurring with Griffiths that the greenback can push higher over the next few weeks. Click here to access the presentation.
The last words go to David Fuller (Fullermoney): “…the US dollar’s picture is decidedly mixed. Even against the weak euro and sterling I would be cautious about extrapolating the greenback’s strength. While momentum selling may push the euro and sterling a little lower, practically everyone is bearish. I regard this as position talking, and therefore a contrary indicator for the medium term. Also, the dollar is no longer deeply oversold so it could be vulnerable to any blip in the US economic recovery.”
Source: CNBC, March 29, 2010.
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Read more on U.S. Dollar (USD), AMEX Dollar Index (DXY) at Wikinvest
