Pattern – Continuation Possible targets – 105.60 Support – 103.40 Resistance – 104.20
Today’s update is on the USD index. Do we have a new uptrend? For us, we want to see resistance beaten. If we can see a break, this could set up a new move to 105.60 and a break of that level take price out of its consolidation range and gets an uptrend going. For now, we have a short-term up trend, but buyers have more work to do to confirm it overall.
If we see a new retracement, we want to see support hold. A move back to 102.70 is a worry if you’re on the short-term bull side. With momentum back in the buyer’s court, will we see a break of resistance?
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Aflone
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Lala33
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Great explanation 💕💕
BKTradingAcademy
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The price action is uninteresting at the moment but hopefully we’ll see what it wants to do soon. I am watching previous major support and the resistance ahead. Thanks for your idea!