Mihai_Iacob

DXY- On its way to 102? (weekly outlook)

Long
TVC:DXY   U.S. Dollar Index
Since 2008 low from 72, DXY has traded upwards, and after 2015 break of 90 resistance, this zone has become a strong support, with the price reversing from here in 2018 and twice in 2021.
Recently the price also has broken above 95 interim resistance and seems determined to challenge 102 resistance.
Looking at the "power" of USD this 4% rise is very probable to happen by summer and swing traders can look to sell USD pairs like EurUsd, GbpUsd, NzdUsd, and AudUsd.

P.S: This is a clear example of Gold positively correlated with USD. So, don't trade the correlation (or what you think it is), trade the asset!



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