The US dollar is clearly on the back foot. Is the rebound coming? Not necessarily: Here is their view, courtesy of eFXnews: Bank of America FX Strategy Research notes that on the surface, the path of least resistance appears to be for a weaker USD as we head into an important week for US data which includes the ISM and non-farm payrolls. However, on a deeper look, BofAML notes that there are strong emerging signs that this recent move is becoming exhaustive. In particular, BofAML highlights that as the USD has finally reached oversold levels for the first time in over a year, the currency has also descending against all of G10 pairs in the process, noticing that this pattern has happened only five times since 2012 and tends to promptly reverse. “The dollar may also struggle to make a sustained break below its 200-week moving average particularly as US data surprises have continued to improve through July at the same time as the currency falls. Furthermore, the BBDXY index exhibits a seasonal tendency to rally on average each month into year-end, with November particularly strong over the past year,” BofAML adds. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Daily Look share Read Next UK manufacturing PMI beats with 55.1 – GBP ticks up Yohay Elam 6 years The US dollar is clearly on the back foot. Is the rebound coming? Not necessarily: Here is their view, courtesy of eFXnews: Bank of America FX Strategy Research notes that on the surface, the path of least resistance appears to be for a weaker USD as we head into an important week for US data which includes the ISM and non-farm payrolls. However, on a deeper look, BofAML notes that there are strong emerging signs that this recent move is becoming exhaustive. In particular, BofAML highlights that as the USD has finally reached oversold levels for the first time in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.