The Dollar
continues being hurt by the disappointing US fundamentals and its index drops
below the 95.00 level to get close to the 94.00 level. The bearish momentum is
still in place, even though the index tries to pull back. If it continues
dropping, then the 94.00 level may act as support. Below the 94.00 level, it
next support could be the 93.00 level. To the upside, above the 95.00 level,
the 200 EMA zone around the 95.86 level could act as resistance. Also, there is
a chance of seeing a breakout and pullback pattern around the 95.00 level, from
where a short entry is possible.
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Thanks for the tips.
ReplyDeleteIt may be anticipating the FOMC Minutes later today.
ReplyDeleteThank you for the analysis.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteGood analysis, thank you for sharing!
ReplyDeleteGood to know!
ReplyDeleteThanks for such an informative article.
ReplyDelete