Technician

USD: Could be long-term buying oppurtunity - Update | #FOREX

INDEX:DXY   US DOLLAR CURRENCY INDEX
33
In my previous long term analysis for the U.S. dollar index six months ago (www.tradingview.com/v/nFjCrZRH/), I was anticipating this bullish breakout, indeed the breakout materialized, however, at this juncture, i moved to a higher time frame(3-months) to show a major falling trend line(on logarithmic chart) that is being retested now, in addition to that, the price has corrected 50 percent of the overall bearish wave from 121 to 70. We may see the index correct some of recent months sharp gains. I prefer to book profits on any USD long positions for now, as we might see a reasonable pullback within the coming weeks.
But i believe that we should be prepared to long the dollar again from lower levels.

Be one of the first 1k members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you

Good luck, keep your stops tight..
My best regards
Technician
면책사항

이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.