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U.S Dollar Near A 4 Week Low

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Dollar Index Futures---The U.S dollar in the December contract is trading lower by 25 points currently at 93.60 right near a 4 week low possibly creating a double top around the 95.05 level as I am not involved in this market, but I'm looking at a possible short position in the days ahead.

The U.S dollar is trading below its 20 day but still above their 100 day moving average as this market has stopped its bullish momentum and now has a mixed trend with the next major level of support around 93.36 & if that is broken you have to think that the bearish trend could ensue.

The volatility in the U.S dollar is relatively low just like the rest of the commodity markets as we head into the holiday season as my only recommendation out of the currency markets is a bearish Mexican Peso which I've been involved in for over 2 months as I will keep a close eye on this market as a possible double top may have been created.

In my opinion for the commodity markets to start to increase there volatility and start some bullish trends you need a weak U.S dollar as this is the key influence on the commodity sectors going into 2018.




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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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