USDOLLAR UPTREND INTACT
Updated
The USDOLLAR has seen some pullback the last few days but broke out last week.
If the current shallow support holds expecting this to just have been a small correction down before making a new leg upwards. All other currency pairs are in extreme interest rate territories relative to the US so expecting USDOLLAR demand to maintain strength.
Entry level at 12400, stop-loss below 12360
12390 Level can be passed during a fake breakout downwards if it holds below expect further correction downwards.
If the current shallow support holds expecting this to just have been a small correction down before making a new leg upwards. All other currency pairs are in extreme interest rate territories relative to the US so expecting USDOLLAR demand to maintain strength.
Entry level at 12400, stop-loss below 12360
12390 Level can be passed during a fake breakout downwards if it holds below expect further correction downwards.
Note
The dollar stayed nicely within the red buffer zone and looks like it will head upwards after yesterdays data release. Lets hope today's releases have a similar impact. If the data is positive expect the dollar to start making new highs again and then testing all time highs. Very little resistance after the high of Friday last week.
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