USDOLLAR trade ideas
USDOLLAR before 3% decline... The analysis indicates the related fractals and their sequence. It is clear that the exchange rate may begin to build a declining fractal. In case the analysis is correct, according to the fractal rules, I expect to construct a double-sized fractal (shown in a green rectangle). The target price is around 12000 levels.
Will the dollar uptrend continue? The dollar has been king for some years now but are we seeing a top?
I would argue the dollar can only go up due to the higher rates compared to other major currency fed rates. Though the obvious doesn't always play out Europe may see a sudden change in sentiment it cant be bad forever. Developing economies are in a rump but when they come out they will benefit from local currency demand plus a stronger yen.
Im sticking to the trend but a reversal would be an interesting opportunity to enter at a top.
USDOLLAR UPTREND INTACTThe USDOLLAR has seen some pullback the last few days but broke out last week.
If the current shallow support holds expecting this to just have been a small correction down before making a new leg upwards. All other currency pairs are in extreme interest rate territories relative to the US so expecting USDOLLAR demand to maintain strength.
Entry level at 12400, stop-loss below 12360
12390 Level can be passed during a fake breakout downwards if it holds below expect further correction downwards.