Still Dollar index consolidating at narrow range of 100.5 to 102Still Dollar index consolidating at narrow range of 100.5 to 102. It may break trendline or supportLongby ZYLOSTAR_strategyPublished 2
DeGRAM | DXY reached the dynamic resistanceDXY is moving in a descending channel under the upper trend line. The price has already reached the dynamic resistance, which has twice acted as a pullback point. The chart is under the resistance level and the retracement level. We expect a decline. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!Shortby DeGRAMUpdated 113
DXY - MidtermThe FED surprised the markets with a 0.50 point preemptive rate cut. We expect this preemptive cut to cause a downward movement in the dollar index. However, we do not foresee a long-term downtrend. While the FED started the process with a larger-than-expected cut, other central banks had already begun their rate-cutting cycles much earlier. Therefore, after a brief decline, we expect the dollar index to stabilize and rise again. Technically, the first of our two major support levels, 100.6, has been broken. We now expect the decline to continue towards the second major support zone between 99.4 and 99.75. The double-top technical formation on short-term charts also supports the downward momentum. If the price finds support in the 99.4 - 99.75 range, we could see a rise towards the 102.2 - 103 area. As for the impact on other dollar pairs, we expect to see upward movements in XxxUsd pairs and downward movements in UsdXxx pairs.by TradeAndMeAppPublished 1
USD - An end-of-month rebalancing bounce in the beaten up buckUSD - An end-of-month/QTR rebalancing bounce in the offering. A rise in long-end US yields and the start of month-end rebalancing flows overnight helped the beaten-up USD index, the DXY, bounce from a fourteen-month low. The rule of thumb for month-end/QTR-end rebalancing flows, whether it be in stock indices, bonds or FX, is to "buy the losers and sell the winners. " On top of it being a regular month-end rebalance, it's also a quarterly rebalance. For the quarter, the USD index, the DXY, has lost -4.65%. Within the details, the JPY has been the big winner as it surged 10.07%, while GBP has gained 5.29%. Hence, the expected flows likely to consist of strong USD buying against most pairs, but in particular against the JPY and GBP. For those interested in a trade into month/QTR end, look for the USD index, the DXY to bounce back towards 101.80, leaning against the double low print overnight at 100.20. A view which is also supported by bullish divergence on the RSI indicator. Longby IG_comPublished 8
DreamAnalysis | DXY Insights with Major Price Zones AheadToday, we’re diving into the DXY (US Dollar Index), a key player in the forex market. We’ll break down its current price movements and explore what we can anticipate based on critical levels. 📊 Current Market Overview : At the moment, the price has swept through several key sell-side liquidity (SSL) levels, including the Previous Month Low (PML). We expected a retracement higher, but so far, price hasn’t made any significant moves. Now, price is hovering around an Equal Low (EQL), which also aligns with the Previous Week Low (PWL). With that said, the possibility remains that price could drive lower, clearing additional SSL levels. 🕓 Identifying Key Levels : Here are the critical levels we’re monitoring on the chart: - PMH: Previous Month High - PML: Previous Month Low - PWH: Previous Week High - PWL: Previous Week Low - EQL: Equal Low - BSL: Buy-Side Liquidity - 4H FVG: 4-Hour Fair Value Gap (potential retracement and imbalance zone) - Daily FVG: Daily Fair Value Gap These levels represent important zones where the price may gather liquidity, enabling it to move toward the next major target. The Fair Value Gaps (FVGs) are imbalances that price may revisit to "rebalance" and collect orders. 📈 Bullish Scenario : For a bullish outlook, we’ll need to see the price sweep the Previous Week Low (PWL) liquidity level, which is also an Equal Low (EQL). However, aggressive traders may look to lower time frames to find entries as price dips into low-resistance sell-side liquidity zones. 📉 Bearish Scenario : In a bearish scenario, we would need the price to sweep low-resistance buy-side liquidity (BSL) levels on lower time frames before targeting lower levels like the Previous Week Low (PWL). Currently, there isn’t strong confluence on higher time frames to aim for significantly lower prices. 📝 Conclusion : As we wrap up, it’s crucial to remain flexible and responsive to changing market conditions. Understanding key levels and potential scenarios allows us to refine our trading strategies and capitalize on opportunities. 🔮 Future Market Trends : Stay tuned! We’ll continue tracking the DXY, EUR/USD, and other major currency pairs, offering timely insights and updates as the market evolves. ⚠️ Disclaimer : The information provided here is for educational purposes only and should not be considered financial advice. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.Longby DreamAnalysisPublished 3
DeGRAM | DXY downturn in the channelDXY is moving in a descending channel between trend lines. The chart has not yet reached the lower boundary of the channel. After touching the dynamic support, the price bounced to the resistance level. We expect a decline after the resistance retest. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!Shortby DeGRAMPublished 229
DXY Analysis: Wyckoff Accumulation Suggests Upside PotentialDXY Analysis: Wyckoff Accumulation Suggests Upside Potential The Dollar Index (DXY) recently bottomed following an extended period of consolidation, marking the end of a Wyckoff Accumulation pattern on the chart. This phase of accumulation indicates that the dollar has likely built enough momentum for a bullish move. In the near term, I expect DXY to rise toward 101.6, followed by further strength taking it to 105.55 by the end of the year. As the accumulation phase transitions into a markup phase, the dollar is set for a period of appreciation. Longby HexacapitalPublished 2
Inter-market analysis I'll conduct an inter-market analysis focusing on the relationships between various financial instruments over different time frames. 1. Short-term view (Image 2 - approximately 1 month): - Gold (yellow line) has been the best performer, showing a steady uptrend and currently up 5.07%. - The U.S. Dollar Index (green line) has been relatively stable, with a slight decline of 0.06%. - SPX (red line) has shown some volatility but is up 1.18%. - Bitcoin (blue line) and WTI oil (white line) have been more volatile, with Bitcoin currently down 2.57% and WTI down 4.94%. 2. Medium-term view (Image 1 - approximately 3 months): - Gold continues to be the top performer, up 13.69%. - The U.S. Dollar Index has weakened, down 4.91%. - SPX has recovered and is now up 4.25%. - Bitcoin has shown significant volatility but has recovered to a 1.91% gain. - WTI oil has had a strong recovery, now up 10.56%. 3. Long-term view (Image 3 - approximately 9 months): - Gold has been the most consistent performer, up 28.21%. - Bitcoin shows the highest volatility, with dramatic swings, currently up 39.39%. - SPX has had a steady uptrend, now up 20.31%. - The U.S. Dollar Index has weakened over this period, down 1.56%. - WTI oil has recovered from earlier lows, now up 1.47%. Key observations: 1. Inverse relationship between Gold and the U.S. Dollar: As the dollar weakens, gold tends to strengthen, which is evident across all time frames. 2. Bitcoin's high volatility: While showing strong performance over the long term, Bitcoin experiences significant short-term fluctuations. 3. Steady performance of equities (SPX): Despite some short-term volatility, the stock market has shown resilience and growth over the medium and long term. 4. Oil price recovery: After a period of weakness, oil prices have shown a strong recovery in the medium term. 5. Safe-haven appeal of Gold: Gold's consistent performance across all time frames suggests its role as a safe-haven asset during periods of market uncertainty. This analysis suggests a market environment characterized by dollar weakness, strength in alternative assets like gold and Bitcoin, and resilience in equities. The recovery in oil prices could indicate improving global economic expectations. Investors appear to be balancing between risk assets (equities, Bitcoin) and safe-havens (gold), possibly hedging against inflation or economic uncertainty.by MoshkelgoshaPublished 6
U.S. Dollar Index is near to fall. Soon..The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against basket of other six major currencies, extends its losses for the 5th consecutive week in a row, hovering below 102 points during the U.S. regular hours on Monday, August 19. Over the past week, Gold spot (XAUUSD) has topped $2500 per ounce psychological high also, minting new all the history peak, while Forex Eur/Usd (EURUSD) pair just has flashed a positive 2024 YTD return, jumping above 1.10 psychological degree. The US Dollar continues to weaken following dovish comments from Federal Reserve (Fed) officials, which have increased a new portion of expectations for an interest rate cut by the central bank in September. Furthermore, last week’s US economic data revealed that both the Producer Price Index (PPI) and Consumer Price Index (CPI) suggest that inflation is easing. Federal Reserve Bank of San Francisco President Mary Daly stressed on Sunday that the US central bank should adopt a gradual approach to lowering borrowing costs, according to the Financial Times. Daly countered economists' concerns that the US economy is facing a sharp slowdown that would warrant rapid interest rate cuts. Additionally, Federal Reserve Bank of Chicago President Austan Goolsbee cautioned that central bank officials should be careful not to maintain a restrictive policy longer than necessary. Although it's uncertain whether the Fed will cut interest rates next month, failing to do so could negatively impact the labor market, according to CNBC. Additionally, the decline in the US yields contributes to downward pressure for the Greenback. 2-year and 10-year yields on US Treasury bonds stand at 4.05% and 3.85%, respectively, at the time of writing. This week, all eyes will be on Federal Reserve Chair Jerome Powell's upcoming speech. In a bottom line, the major technical graph for the US Dollar Index (DXY) indicates on possible huge decline for the next upcoming 12 to 18 months. The secondary RSI(14) graph indicates also, the bearish sentiment prevails. by PandorraUpdated 14
Dollar Index Bullish to $109!I am looking for a 3 Sub-Wave correction into $109 for 2025. I believe this'll be fuelled by the U.S. elections. Donald Trump will be selected as the next puppet to run the U.S. economy. His 'MAGA (Make America Great Again' phase will push liquidity into the US Dollar. This is how I think the market will reach $109.Longby BA_InvestmentsPublished 1125
USDX: Trend in 4H time frameThe color levels are very accurate levels of support and resistance in different time frames, and we have to wait for their reaction in these areas. So, Please pay special attention to the very accurate trend, colored levels, and you must know that SETUP is very sensitive. BEST, MTby MT_TUpdated 11
Dollar Index 4hr analysisContinuing our scenario analysis and forecast on the weekly and daily timeframes, here are the reasons for which we believe that at the moment the most likely scenario to play out is scenario 1 (dollar strength), from now on or soon: 1. the flat most likely to play out in the daily is a regular flat (dark blue) because the flat inside it (light blue) is the one that looks most proper, or "ideal", as it has a perfect correction inside it to mark the b wave (marked by a circle, both on the chart and on the macd). 2. the contracting flat that you can see in part 2 of our daily analysis, is a terrible looking correction because even it it were a contracting flat, still the b wave inside it should be the most corrective piece, and it isn't. 3. there is growing divergence on the way down in this last move down on the 4hr, which indicates a potential turn. Please follow us if you feel that our analysis or setups can be of help! Thank you for viewing.Longby TradingClearPublished 3
Which scenario now for DXY ? (weekly timeframe) - educationalWhich scenario is going to unfold, at this point, on the dollar index on the weekly and daily timeframes? That is the question everyone's asking. There are two scenarios still possible, because the direction has not been either taken not confirmed as yet. This is scenario 1: we will now go for a reversal of the dollar (dollar strength) to complete a regular flat, before resuming the downside. Is this the most likely scenario? At the moment it seems it is, because on the daily timeframe you can see that the movement that occurred between December 23 and April 24 has the biggest correction inside, which would make said movement the B wave of the internal flat (marked in light blue). At this point, we are therefore starting to look for buy opportunities on the dollar index, so sell setups on eurusd for instance.Longby TradingClearPublished 3
Levels discussed during livestream24th September DXY: Currently just below 101, needs to break 100.85 for more downside to 100.60 support level. NZDUSD: Look for reaction at round number resistance 0.63 AUDUSD: Sell 0.6810 SL 20 TP 60 GBPUSD: Buy 1.3380 SL 30 TP 60 EURUSD: Buy 1.1150 SL 15 TP 50 USDJPY: Sell 143.70 SL 50 TP 155 USDCHF: Sell 0.8460 SL 25 TP 50 USDCAD: Do Nothing, in the middle of support / resistance level Gold: Upside to continue, looking to buy dips, up to 2650 by JinDao_TaiPublished 4
Dollar Index - Finally, A Take-Off!If you have watched my previous analysis on the Dollar Index, you will know that the area of 101.994 was a target for weeks but we kept on seeing relative equal highs created. This incentivised smart money to hold proce below in a discount in order to pile in more sell stops as classic retail minded traders would think that because LL and LH's are being formed, their stop will be safe at the next recent highs as the 'trend is your friend' I capitalise of this mantra What we saw was a low resistance liquidity run above daily buy stops, trading back into a macro premium. The question is, will price hold in a premium above 101.994? Price bullish above 101.994 = risk off conditions which equals a higher probability for traders to capitalise on a short-term/medium-term/long-term bearish trend in FX, stock index, precious metals, crypto etc.. Price bearish below 101.994 = risk on scenarios which equals to a higher probability for traders to capitalise on a short-term/medium-term/long-term bullish trend FX, stock index, precious metals and crypto. Long11:32by LegendSincePublished 0
DXY Bearish reversal Pattern. WE can see the dxy forming a bearish reversal pattern off that supply fvg zone . .. You gotta have a potential bearish bias switch for the dxy Shortby icharlesdjPublished 0
DXY US Dollar Internal Level Worth NotingOn an internal basis, the Buck has made it nicely into a potential wave iv high. The Alternate count is there in Purple, but with CPI coming up later this week, we do have some catalysts at hand that would fit nicely with the final wave v leg lower to complete the Wider wave-C and the higher degree wave-2. Obviously, the larger point is we are nearing the time a larger wave-3 much higher comes into picture, with end of year and the first Quarter the obvious turn points.by HendoMacroPublished 0
Market News Report - 06 October 2024The last were turned this week for AUD, which went from being one of the top-performing currencies to among the worst. Conversely, the dollar gained the upper hand partly because of positive job numbers. Let's see how the coming weeks may turn out for the major currencies in our latest market news report. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. The Fed's recent historic 50 basis points (bps) rate cut keeps the bearish bias firmly in place. However, the stronger-than-expected jobs report put a spanner in the works, pricing out a 50 bps cut in the next meeting. However, the central bank has signalled the potential for two 25 bps drops by the end of this year. STIR (short-term interest rate) markets see a 97% chance of this cut in the meeting next month. After weeks of ranging around the key support area at 100.617, the DXY made its intention known to head north. We spoke about a potential technically-driven retracement (despite the bearish fundamentals). Meanwhile, the key resistance is far away at 107.348, which will remain untouched for some time. Long-term outlook: weak bearish. Markets anticipate several rate cuts before the year ends, with the Fed keen to harness a soft landing. Also, any data on weakened jobs would be another bearish driver for the dollar. However, the recent upbeat Non-Farm Payrolls figure makes rate cuts less urgent, allowing for potential further USD retracement. Euro (EUR) Short-term outlook: bearish. As usual, the STIR (short-term interest markets) were predictably accurate as the European Central Bank (ECB) cut the interest rate a few weeks ago. While 'being mum' about forward guidance, they revised core inflation projections higher. Also, the past week saw weaker economic data across various European nations. Finally, short-term interest rate (STIR) markets have indicated a 100% chance (up from 93% last week) of a rate cut at the October 17 meeting. The euro stayed around the 1.1200 area for over two months. However, it broke the range, showing the first of bearish pressure. Still, this market finds itself not far between the major resistance at 1.12757 and key support at 1.07774. Long-term outlook: bearish. After a long period, we have changed the long-term bias to 'bearish' (from 'weak bearish'). The ECB has yet to commit to a specific future path with the interest rate for some time. Due to lingering concerns over services inflation, a rate cut in October has become more likely than before. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) kept the interest rate steady in its meeting. Still, the language indicates that they need to be “restrictive for sufficiently long.” Also, the central bank's higher-ups stressed "a gradual need" to cut rates. As with the ECB, the central bank's current key theme is fighting persistent inflation in the United Kingdom. So, it makes more sense to be dovish than hawkish. Governor Bailey even hinted last Thursday that "aggressive rate cuts" were possible if inflation went lower. This past week's downturn may be the start of a more serious bear move. Nonetheless, the next resistance target is 1.34825. Meanwhile, the nearest key support is at 1.26156. Long-term outlook: weak bearish. Sequential rate cuts by the BoE may soon be a reality. Also, expect any weak CPI, labour, and GDP data to back up the bearish bias. However, the central bank hopes for lower service inflation, which may provide relief. Another interesting point is the latest CFTC (Commodity Futures Trading Commission) report, showing that GBP longs have been stretched to the upside. So, bullishness should be limited at some point. Japanese yen (JPY) Short-term outlook: bullish. The primary bullish catalyst is the Bank of Japan’s (BoJ) recent decision to hike the interest rate. STIR markets expect a hold (99% probability) at the next meeting but a hike at the start of next year. Governor Ueda of the BoJ noted that despite domestic economic recovery, recent exchange rate movements have reduced the upside risk of inflation. All of this backs up the potential for a rate hold or hike. The 140.252 support area is proving quite strong, boosting the yen since mid-September. Still, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish. Lower US Treasury yields are one potential bullish catalyst for the yen (the opposite is true). Inflation pressures and wage growth would also provide upward momentum. We should also consider that the dovish tendencies of other major central banks and worsening US macro conditions are JPY-positive Still, as a slight downer, near-term inflation risks subsiding (according to the BoJ) reduce the urgency for a rate hiking cycle. Australian dollar (AUD) Short-term outlook: weak bullish. The Reserve Bank of Australia (RBA) kept the interest rate unchanged during the Sept. 25 meeting. They further stated that they "did not explicitly consider rate hikes" for the future, which is a marginally dovish statement. The Aussie remains sensitive to China’s recent economic woes, especially with declining iron ore prices from the country’s steelmakers. As always, it depends on drops or rises in economic data like GDP, inflation, and labour. After failing to break the 0.68711 resistance level several times, the Aussie retraced noticeably from this area. Still, this market is bullish and far from the major support level at 0.63484. Long-term outlook: weak bullish. The RBA has certainly changed their tune from hawkish to slightly hawkish/dovish. Overall, it's crucial to be data-dependent with the Aussie, especially with core inflation as the RBA's key focus area. However, the Australian dollar is pro-cyclical, so it is exposed to economic growth in other countries. New Zealand dollar (NZD) Short-term outlook: weak bearish. In its latest meeting, the central bank's dovish stance (where it cut the interest rate) puts the Kiwi in a 'bearish bracket.' The Reserve Bank of New Zealand (RBNZD) also revised cash rate projections lower, which further signals a dovish move. Finally, various core inflation metrics are consistent with stable and low inflation. The markets see a 100% chance (up from 70% last week) of a 0.5% rate cut at Tuesday's meeting. The major resistance level at 0.63696 is proving past strength as we see a noteworthy retracement (similar to its neighbouring Aussie). Conversely, the major support is at 0.58498, an area which it is unlikely to test soon. Long-term outlook: weak bearish. In its latest meeting, the central bank's dovish stance (where it cut the interest rate) puts the Kiwi in a 'bearish bracket.' However, as a risk-sensitive currency like the Aussie, any growth data in China could trigger bullishness for NZD. So, traders should be data-dependent. Canadian dollar (CAD) Short-term outlook: bearish. The Bank of Canada (BoC) recently dropped the interest rate to 4.25%, as anticipated by the markets for some time. Further cuts in the next few meetings are on the cards (with a 63% chance of a 50 bps cut next month), with the long-term target being 3%. Unemployment, weak economic growth, and mortgage stress are the key drivers for this dovishness. Speaking of the former, keep an eye on the CAD unemployment rate on Friday (where no change is expected). The CAD continues to strengthen mildly due to USD weakness. It now looks to test the next major support target at 1.33586, while the major resistance is far ahead at 1.39468. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point. Governor Macklem himself stated a while ago that it's reasonable to expect more cuts in the future. Any big misses in the upcoming data for GBP, inflation, and GDP will probably boost the chance of a rate cut. STIR markets see a 63% chance of the latter happening later this month. Also, mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. Expect encouraging oil prices and general economic data improvement to save the Canadian dollar's blushes. Swiss franc (CHF) Short-term outlook: bearish. STIR markets were, as usual, correct in their 43% chance of a 25bps rate cut (from 1.25% to 1%) this past week. In the Sept. 26 meeting, the Swiss National (SNB) indicated its preparedness to intervene in the FX market and further rate cuts in the coming quarters. The central bank's new Chair (Schlegel) said they "cannot rule out negative rates." Finally, the September CPI came in weak at 0.8%, against the expected year-on-year 1.1%. Still, the Swiss franc can strengthen during geopolitical tensions, such as a worsening Middle East crisis. While we see a clear range, this market is looking to break it (even though it remains a strong bear move). The major support level is closer at (0.83326), while the major resistance level is far higher at 0.92244. Long-term outlook: weak bearish. The bearish sentiment remains after the last SNB meeting, while inflation is being tamed with lower revisions. We should also remember that the SNB's intervention prevents the appreciation of the Swiss franc. The new chairman is more keen to cut rates than his predecessor, Jordan. STIR markets are currently pricing a 22% chance of a 50 bps cut at the meeting in December. On the flip side, 'safe haven flows' and geopolitical risks can be positively supportive for the currency. As with other central banks, inflation is a crucial metric in the SNB's policy rates. Conclusion Besides the NZD interest rate decision, this week isn't filled with high-impact economic events, reducing the chance of high volatility. Still, hope for the best and prepare for the worst. This report should help you determine your bias toward each currency in the short and long term. by CityTradersImperium_CTIPublished 0
DXY: Move Up Expected! Buy! Welcome to our daily DXY prediction! We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 102.633$ Wish you good luck in trading to you all!Longby XauusdGoldForexSignalsPublished 111
DXY Will Go Up From Support! Long! Please, check our technical outlook for DXY. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 102.413. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 103.410 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProviderPublished 111
Dollar's Comeback: Can it Last?The US dollar has made a remarkable comeback, shaking off recent weakness and surging higher. This resurgence is driven by stronger-than-expected economic data and safe-haven demand amid geopolitical tensions. This fundamental analysis examines the factors fueling the dollar's renewed strength and explores potential trading opportunities, focusing on the upcoming US CPI figures, RBNZ rate decision, and Canadian labor market data. Shift in Sentiment: The dollar's rebound is fueled by a shift in market sentiment. Recent US economic data, particularly labor market figures, have exceeded expectations, prompting a reassessment of the Fed's policy trajectory. Safe-haven flows due to geopolitical tensions have further supported the greenback. Labor Market Strength: The robust labor market, evidenced by strong job growth and rising wages, has been a key driver of the dollar's resurgence. This has challenged the narrative of a weakening US economy and reduced expectations for aggressive Fed rate cuts. Inflationary Pressures: The strong labor market could contribute to persistent inflationary pressures. The upcoming US CPI data will be crucial in gauging the inflation trajectory and its potential impact on Fed policy. Inflation meeting or exceeding expectations (2.5% headline, 3.8% core) could fuel further dollar strength. Technical Outlook: The dollar has broken out of its recent downtrend, with the US Dollar Index (DXY) clearing key resistance levels. Further gains are likely if this upward momentum continues. Traders will be watching for a sustained break above the 103 level. Upcoming Data Releases US CPI Inflation: Thursday's release will be crucial for the dollar's trajectory. Inflation in line with or above expectations could support further dollar gains. RBNZ Rate Decision: The RBNZ is expected to cut rates by 50 basis points, potentially weighing on the NZD. The key question is whether the central bank will signal further easing. Canadian Labor Market Data: Friday's release could impact the CAD. A weak report could reinforce the Bank of Canada's dovish stance, while a strong report could provide some support for the loonie. by E8MarketsPublished 1
Uptrend Dollar index It is expected that the upward trend will end in the current resistance range and we will see the beginning of the corrective trend. As long as the index fluctuates above the support range, the upward trend is likely to continueLongby STPFOREXPublished 0