USDOLLAR before 1.4% decline... The analysis shows that the linking axis of the ATR value taken at 3 points began to decline. It can also be linked to a three-point curve. This leads to the conclusion that the exchange rate is slowly moving to a reversal and starts south. If my idea is correct, then the target price is 12171.
USDOLLAR trade ideas
Usd Index, Could 12262 Hold??
Per the CPI news that came from the US economy, It pushed price to the downside below the 12262 support but later closed above the psychological level of the same 12262 region. Hence there is a potential move to the upside of 12316 region. Thus anticipating some level of dollar strength coming in across the major usd pairs.
Possible Move DownThe Index seems to have finished the B wave of the 3 wave ABC corrective pattern. It is highly likely that the index will now make a C wave, going down to retest the levels close to A. Once this correction is done, it could continue to move up. In the short term, I am looking at the index making one move down from the current levels.