Mihai_Iacob

DXY can rise again above 109

CAPITALCOM:DXY   US Dollar Index
After the break under the last ascending trend line started in mid-August on 21st Oct and a retest of this break at the beginning of Nov, DXY continued its drop and also broke under horizontal support and the long-term trend line 5 days after. This important break led to aggressive losses and a test of the following horizontal support at the 105 zone.
Now the index is in recovery and a rise to the 109 zone could follow.
I'm bullish USD as long as last week's low is intact and selling rallies for EurUsd, AudUsd, NzdUsd and GbpUsd could be a goos strategy


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