Global macro overview for 09/11/2016:
There is plenty of evidence that the 45th president of the United Stated will be Donald Trump, who secured his White House seat when he won over 270 votes in the general election this night. In his short speech in New York, after the majority of the polls closed, he promised to embark on a project of national growth and renewal, put millions of people to work rebuilding infrastructure, get along with all nations willing to get along with US and to seek common ground not hostility, partnership, not conflict. As we all remember he has made some serious threats and promises during his campaign, so we will have to wait and see if he carries those through.
Let's now take a look at the US Dollar Index technical picture at the daily time frame. The market has dipped to the level of 95.89 so far, but even this level can be still labeled as a higher low in the sequence of the overall lows. The next thing that bulls have to do in order to rally higher is to clearly break out above the technical resistance at the level of 98.12 and then 99.12. Otherwise, the price might get stuck in the horizontal congestion zone again.
