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The dollar index is confused between the low of January and the top of September

The US dollar index does not look at its best, an incomplete rise and an alarming decline, and it does not seem that the US president’s tax plan will be supportive of the dollar. At first, the new US president needed more internal debt to fund the checks of his initial stimulus package. Currently he has nothing left but to demand more from taxes to implement his electoral promises, but unfortunately, more taxes will pay more American capital to search for tax havens even in China, which simply means fewer opportunities for creating new jobs and increasing unemployment rates, in conjunction with the anticipated political crises with the Republicans.

Technically, the dollar index can continue its decline towards the bottom of 88.945, and it is not possible to bet on a rise unless the dollar index rose above 23.6% Fibonacci 91.531, but the stability of trading below 23.6% Fibonacci for more than two weeks is not a positive sign at all, the worst is that we do not yet know how It will be when the US president discusses his new tax plan this week

Link to my original article on Arincen Network

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