The technical analysis on the dollar is very important because if it is analyzed correctly most of your signals will be good.
You can see in the chart above that the dollar fell almost all of last week and stopped just above the moving average 200 which serves as strong support, another important point is the Stochastic indicator - we are in the 20 zone which is a strong buying area, the red and blue line intersecting strengthens the buy signal.
So, in conclusion, we have a strong buying trend on the dollar with lots of signs that reinforce it
Buy DXY:
Entry Price: 96.55
Take Profit: 97.5
stop Loss: 95.60
You can see in the chart above that the dollar fell almost all of last week and stopped just above the moving average 200 which serves as strong support, another important point is the Stochastic indicator - we are in the 20 zone which is a strong buying area, the red and blue line intersecting strengthens the buy signal.
So, in conclusion, we have a strong buying trend on the dollar with lots of signs that reinforce it
Buy DXY:
Entry Price: 96.55
Take Profit: 97.5
stop Loss: 95.60
Trade closed: target reached:
Going ahead of time with a nice profit of 60 pips