We have seen big drop in US Dollar Index last weeks and that formed new downtrend. Now price has bounced from support line (green line). Below that is EMA 100 and I think it is currently playing big role because if we see price closed below it that would be very bearish for US Dollar Index. If we see price going up from this spot then next important points where we can expect price reactions are downtrend line (red line), red dashed line and above that red zone.
At Wednesday CPI report is coming out and it could bring instability on the market. Forecasts are that it will drop from 6.0% to 5.2%.
This is not financial advice and I am not a financial advisor. It is important to do your own research and make your own opinion before getting into any trades or financial investments. You are responsible for all your trades and all win and lose results, so manage your risk according to your financial situation. Don't invest money which you are not ready to lose.
At Wednesday CPI report is coming out and it could bring instability on the market. Forecasts are that it will drop from 6.0% to 5.2%.
This is not financial advice and I am not a financial advisor. It is important to do your own research and make your own opinion before getting into any trades or financial investments. You are responsible for all your trades and all win and lose results, so manage your risk according to your financial situation. Don't invest money which you are not ready to lose.
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