Since Donald Trump became the president of the United States, the stock market had very much moved in one direction – Bullish.
With the expectation to lift the Dodd Frank Act, financial stocks are picking up at extraordinary speed. However, the DXY (Dollar Index) has been falling with no intention of reversal at this very moment.
With such bearish momentum, it is likely that the first support zone (93.5 – 94) may be broken. More bearishness may set in once 93.5 breaks. This is very evident when we look at all the majors against USD. Almost all the XXXUSD had broken up from the last 2-3 years of resistance.