BulletproofTraders
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Targeting the medium-term cycle, we believe the price of the greenback could potentially turn around for a massive upside reversal. Even though negative momentum is still driving the index downwards, we believe it might turn out to be a bearish trap after all. That is why we are being apprehensive about our positioning against the US Dolllar.
A weekly closing bar below 95.23 will make a strong case for a downside breakout. On the other hand, pulling back up above this key-level by the end of the week will strongly suggest a full fledged up side reversal is in the making.
A weekly closing bar below 95.23 will make a strong case for a downside breakout. On the other hand, pulling back up above this key-level by the end of the week will strongly suggest a full fledged up side reversal is in the making.
