Long term trend: Up
Medium term trend: Up
Significant Levels: 10970 (Horizontal Resistance), 10880 (Horizontal Support), 10650 (Significant Area), 10370 (Significant Area)
As previously discussed, the US Dollar has gained its strength. Currently, USD is still going up and is now near the previous high which is now again a Resistance. The market recently respected this Resistance and is a bit going down for now. Although this is the case, USD is still strong and is bullish right now. It is likely that the 10970 level will be broken in the next few days or weeks. It's possible that USD might retrace before continuing its trend. Buying USD if the price dips would be a good opportunity. Take note those significant levels and see how the market will react at those areas.
Trade well.
Medium term trend: Up
Significant Levels: 10970 (Horizontal Resistance), 10880 (Horizontal Support), 10650 (Significant Area), 10370 (Significant Area)
As previously discussed, the US Dollar has gained its strength. Currently, USD is still going up and is now near the previous high which is now again a Resistance. The market recently respected this Resistance and is a bit going down for now. Although this is the case, USD is still strong and is bullish right now. It is likely that the 10970 level will be broken in the next few days or weeks. It's possible that USD might retrace before continuing its trend. Buying USD if the price dips would be a good opportunity. Take note those significant levels and see how the market will react at those areas.
Trade well.