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?
— Alexandros Yfantis (@alexanderYf) June 8, 2017
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!!!!