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USD Index: Double Top Divergence

INDEX:DXY   U.S. Dollar Index
Last week, price managed to break and close above the previous structure high. However, just before the market closes on Friday, we saw a double top divergence formed. With the double top divergence in place, we are expecting price to at least retrace to retest the 95.00 region.

As long as this level holds, we can expect price to head and form new high. However, should the 95.00 level is breached, we can potentially see price reaching towards the 94.50 level.

I would love to hear your opinion, feel free to comment, agree or disagree.

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KY
Chief Currency Strategist
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