Here is our take on the DXY - referring to the Dollar strength index - which relates to consumer confidence within the United states.
While our charts show less about how the fundamental side affects the setups - the purpose of our view is to show while yes;
The election coronvirus - now affecting Trump directly. Trade stalemate with China US stimulus Internal race division as well as globalisation, US intermediating new Middle east issues.
All of which hang in the balance - but can be used to solidify the position held.
We have our target for Long positions with long positions only - with take profit around 99 price level for those trading short-term and intraday forex trading strategies, ofcourse sells are possible. There is a lot of room for the Dollar Index to keep on rallying and will be into 2021 before we see a profit target hit. There is nothing to prevent the Dollar Index from the bullish movements. So long as the higher highs are maintained [see purple boxes for reference].
The eyes - are sell targets The eyes - are potential buy zones. it depends on your outlook.
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