Price analysis demostrates that the dollar is incapable of reaching a key resistance level after 3 attempts.
Moreover, the Dollar has broken a key resistance level from a support that extends since the start of this come back at the bottom of the formation at 99.600.
We knew 102 would be a key level for the dollar and so far is been far from reaching it.
What I can assure right now it is that before it has a serious attempt at 102 again, it must look out for a serious support that being at around at 101.540.
I predicr that by tomorrow Wall street open we must be touching that region before it will shoot up - for another try ??- I put serious doubts that USD have the fundamentals to reach 102 this week.
We must remember that consumer confidence data is out tomorrow, and depending on this data it may see another attempt at 102. if this data is dissapointing, it will probably have a half harted attempt before quickly dropping but recuperating before fridays close.
I would imagine the close would be around 101.4
I will post follow up about the EUR situation
this is all my opinion and by no means financial advice
Moreover, the Dollar has broken a key resistance level from a support that extends since the start of this come back at the bottom of the formation at 99.600.
We knew 102 would be a key level for the dollar and so far is been far from reaching it.
What I can assure right now it is that before it has a serious attempt at 102 again, it must look out for a serious support that being at around at 101.540.
I predicr that by tomorrow Wall street open we must be touching that region before it will shoot up - for another try ??- I put serious doubts that USD have the fundamentals to reach 102 this week.
We must remember that consumer confidence data is out tomorrow, and depending on this data it may see another attempt at 102. if this data is dissapointing, it will probably have a half harted attempt before quickly dropping but recuperating before fridays close.
I would imagine the close would be around 101.4
I will post follow up about the EUR situation
this is all my opinion and by no means financial advice