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ACROFX
May 30, 2017 10:20 PM

DXY- possible dead cat bounce Long

U.S. Dollar Currency IndexTVC

Description

DXY retraced 61,8% from recent highs and touched the lower end of the ''trading-channel'' since the top, which favours a possible bounce from recent levels. In that matter, we have seen some traction on USD pairs, such as USDNOK and USDCAD reacting upwards today.

In that matter, this setup offers a long setup with a fair risk/reward ration. Long from current levels, stop loss if we close below recent lows and target up against 100 area.

Play safe!
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