US Dollar Index – The greenback has been on a bullish tear and in an uptrend since gaining momentum on the 11th of October.
The bullish momentum continue to pick up and resistance levels continued to be broken.
The price closed at 98.35 this week, probably due to profit taking.
Can we expect higher prices from here?
I wouldn’t calling for any tops just yet but I wouldn’t discount any retracement at these levels.
We have support at 97.52 and if price reaches there, I would be looking to place a buy the greenback policy on all my US dollar pairs.
We can expect more down moves on Monday when the market opens.
But the price movement to the downside would be seen as a retracement and not a trend change just yet.
Have a good weekend!
To your success!
Pro Trader & Trading Coach
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