Reasons fo DXY further bullishness (Fundament&Techncial outlook)
Reasons for US Dollar index further Bullishness
1. Policy divergence between US Fed and other major central banks
2. Donald Trump Trade deal
3. Technical Break out.(DXY broken high of 100.60 and jumped till 101.48 in previous week .In this week the index breaks high of 101.48 and trades well above that level).
DXY declined till 100.65 yesterday and jumped sharply from that level. Short term trend is bullish as long as support 100.50 (resistance turned into support) holds. Any break above 101.50 will take the index up till 102.93 (127.2% retracement of 100.51 and 91.92)/105.
It is good to buy on dips around 101.50 with SL around 100.45 for the TP of 102.93/105
1. Policy divergence between US Fed and other major central banks
2. Donald Trump Trade deal
3. Technical Break out.(DXY broken high of 100.60 and jumped till 101.48 in previous week .In this week the index breaks high of 101.48 and trades well above that level).
DXY declined till 100.65 yesterday and jumped sharply from that level. Short term trend is bullish as long as support 100.50 (resistance turned into support) holds. Any break above 101.50 will take the index up till 102.93 (127.2% retracement of 100.51 and 91.92)/105.
It is good to buy on dips around 101.50 with SL around 100.45 for the TP of 102.93/105