Nothing much changed since last US Dollar Index update. Price is still below downtrend trendline (red line) and it has chance to break it. In that scenario next two potential resistance zones are two red dashed lines (103.08 and 105.25). Red line (101.94.) should act like support after the breaking downtrend line).
If we are going to see rejection from downtrend line then EMA 100 is important zone to watch because it could act as support zone. After that price even could go down to the next support (green line).
On Thursday (April 27) is coming out US GDP preliminary release and forecasts are that it will drop from current 2.6% to 2.0%.
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.
If we are going to see rejection from downtrend line then EMA 100 is important zone to watch because it could act as support zone. After that price even could go down to the next support (green line).
On Thursday (April 27) is coming out US GDP preliminary release and forecasts are that it will drop from current 2.6% to 2.0%.
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.
