The dollar index is consolidating at the top of the channel. The price movements are becoming smaller and the breakout will come soon. This breakout can come to the upside or downside and we are favouring the upside. However, there is a chance that a fakeout back into the channel will come before the upmove comes.
BULL CASE
A break out of the range immediately next week and we see price hit our target of 97.5
BEAR CASE
A break down first 95.5 before the up move comes. If this happens we will need to check the price action after the fed announcements of their taper plans. The announcement may be super bullish for risk on assets.
BULL CASE
A break out of the range immediately next week and we see price hit our target of 97.5
BEAR CASE
A break down first 95.5 before the up move comes. If this happens we will need to check the price action after the fed announcements of their taper plans. The announcement may be super bullish for risk on assets.