The dollar could start rallying within the next 2 weeks
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With EURUSD below a long-term trend line at $1.143, I'm currently interested in a bullish dollar setup for the end of the month. The reason why EURUSD has reached higher this past week is due to the dollar's weakness, but I think this is a fake move. The Dollar Index has a major support level at 93 points, which I expect will allow for a new dollar bounce starting next week (it needs to be tested first). Once tested, I expect the dollar to start rallying like last summer. This should present the ideal conditions for initiating long-term short positions on EURUSD below $1.14.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.