Sforex
Long

USDollar: Three Break, Three Signals for ongoing rally.

TVC:DXY   U.S. Dollar Currency Index
77 0 0
This week, we should watch US Durable Good Orders and US GDP to trade USDollar             , but my overall view is still BUY Dollar.

Investors is hastening to buy USDollar             on over the world, they want to BUY AMERICA AS FAST AS POSSIBLE because this is the only place to store their asset and to invest. A safe place, a safe home.

Xmas             and shopping season is coming, more spending sends more support to greenback.

- Technical Analysis

Like I said in the title,I see three breaks on the chart.

- RSI break it resistance. RSI now is 65, more room for rally to overbought zone 80

- SMA200+SMA100 break, a signal for uptrend in the medium and long term.

- Resistance zone break. That is a break we must not ignore. USDollar             hold below this resistance zone for two months, now a break marks a shift in bias from bearish to bullish .

With those reason, I believe USDollar             will keep its rally to next resistance level at 98.10
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