Forex, Stocks, Cryptocurrency Market Overview

Outside of Europe, the US Dollar was able to enjoy some mild growth throughout the week. The release of the ISM manufacturing PMI, as well as the US employment report, allowed the dollar to be the second-best performing currency of the week. However, looking at the U.S. Dollar Currency Index, the DXY, on the weekly chart, you’d notice that it may be in the process of forming a Double Top bearish reversal chart pattern. It still remains above the daily Ichimoku cloud though. The hardcore resistance is at the 61% Fibonacci retracement level which traces DXY’s downtrend from December 2016 to January 2018.

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