In my previous long term analysis for the U.S. dollar index
six months ago (https://www.tradingview.com/v/nFjCrZRH/
), I was anticipating this bullish
breakout, indeed the breakout materialized, however, at this juncture, i moved to a higher time frame(3-months) to show a major falling trend line
(on logarithmic chart) that is being retested now, in addition to that, the price has corrected 50 percent of the overall bearish
wave from 121 to 70. We may see the index correct some of recent months sharp gains. I prefer to book profits on any USD long positions for now, as we might see a reasonable pullback within the coming weeks.
But i believe that we should be prepared to long the dollar again from lower levels.
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