Dollar bulls make a comeback

Απέραντη στασιμότητα…
June 9, 2017
Ενημέρωση στρατηγικής
June 9, 2017

Good day to all, if you follow my free daily analysis on the Dollar index through my partnership with InstaForex (check this link) you were warned that the Dollar was expected to strengthen as there were many indicators pointing to the end of the bearish trend. You could also read my latest analysis in previous posts here and here where I was clearly bullish the Dollar.

The Dollar index is bouncing off oversold levels and the lower channel boundary breaking short-term resistance trend line. Target 98.50-99.

USDJPY bullish since 109.50 looking for 111 at least.

USDCAD breaks 1.3540 and we move above 1.36.

Read my analysis here. Bulls be careful.

AUDUSD lagging behind Gold I expect it move towards cloud support. Not a time to be buying.

GBPUSD election after shock?who would expect such a decline?

 

EURUSD has broken the up trend channel and TL and has started a decline targeting 1.11-1.10.

This is not the time to be Dollar bearish….do not get carried away by the bearish sentiment on the Dollar….everyone hated EURUSD at 1.04 looking for parity and screaming about it….now? everyone hates the Dollar index at 97 while at 103.50 we were going to 110……

 

have a great weekend everyone!!!!

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.