Note

USD INDEX PRICE ANALYSIS: A DEEPER PULLBACK IS SEEN BELOW 104.00

Alan xi
· Views 66




-  DXY resumes the decline and puts 104.00 to the test.

-  Extra losses appear on the cards on the breach of 104.00.


DXY reverses two consecutive daily advances and resumes the downward bias on Friday.

In case bears regain control, the breakdown of the November low of 103.98 (November 14-15) should pave the way for a quick test of the critical 200-day SMA at 103.61 prior to the weekly low of 102.96 (August 30).

In the meantime, while above the key 200-day SMA, the outlook for the index is expected to remain constructive.


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.

Content related