Elliot_Myers
Long

US Dollar Range Analysis & 100 Pip Buying Opportunity

FX:USDOLLAR   Dollar Index
The dollar is in a defined range of 12050 - 11950 and is likely to trade below 11975 next week, price action below this level is subject to buying pressure (support) which will allow for a buy trade with a target of 12050.

A buy on the triple tested support of 11950 will open a trade worth 100 points as price is likely to follow the range back up to the triple tested resistance at 125050.

Look to take profits on a buy trade at 12025 as price is subject to selling pressure at this level.
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