50 months MA line and a daily Cypher in focus
DXY broke and closed below its 200 weeks MA line last week.
The holiday trading week (low volume) helped the sellers to push the Dollar beyond this important support line.
Now the next line of defense for DXY is the monthly 50 SMA line and the bottom of the structure zone (weekly) that you see in the chart.
The Cypher pattern and the 61.8 Fib level can be used as two potential entry zones for those who still hasn't lost faith in the Dollar's ability to rise!
Yellen testimony and U.S GDP in focus.
Read more about the Dollar, EURUSD and Stocks in this week's newsletter - #WeeklyMarketsAnalysis (search for it on Twitter)
The holiday trading week (low volume) helped the sellers to push the Dollar beyond this important support line.
Now the next line of defense for DXY is the monthly 50 SMA line and the bottom of the structure zone (weekly) that you see in the chart.
The Cypher pattern and the 61.8 Fib level can be used as two potential entry zones for those who still hasn't lost faith in the Dollar's ability to rise!
Yellen testimony and U.S GDP in focus.
Read more about the Dollar, EURUSD and Stocks in this week's newsletter - #WeeklyMarketsAnalysis (search for it on Twitter)
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