USD: Bearish resumption or bullish breakout?
Following up on my recent ideas of eurusd long and gold long and usdchf short ...Looking at the us dollar index chart, it also confirms that we are at potential reversal zone and a key trading area. We are testing the top of the channel and the horizontal resistance and key high at 12012.
As i mentioned earlier, we need a fundamental/economic catalyst to push the us dollar higher, as of now, we do not have it. So i am in favor of the bearish resumption scenario.
However, as a trader i should trade what i see and adapt with what the charts give me, so i would stop and reverse my bias from bearish to bullish on a break above this resistance area.
Best
Technician
As i mentioned earlier, we need a fundamental/economic catalyst to push the us dollar higher, as of now, we do not have it. So i am in favor of the bearish resumption scenario.
However, as a trader i should trade what i see and adapt with what the charts give me, so i would stop and reverse my bias from bearish to bullish on a break above this resistance area.
Best
Technician
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