Μακάρι να είναι σηματωρός..
February 13, 2017
Παλεύοντας με τα κύματα του τραπεζικού
February 13, 2017

The Dollar index has made an important low last week. I was expecting a new low towards 98.50-99 but it the market did not deliver. The Dollar index could very well have already completed its wave 4 correction before the next leg up starts towards 105-110. This is also a very important week news-wise as we have many talks by central bankers and macro-economic news pending.

usdxd

With a low at 99.24 and intermediate support at 100, a pull back is justified for the Dollar index but not a break below 99.25 if we want to assume wave 4 is complete. A new low below 99.25 could push the index towards the long-term support trend line around 98-97.50.

EURUSD

 eurusdIs testing important short-term resistance at 1.0560-1.0570. Trading inside a downward sloping wedge. A breakout above resistance will push it towards 1.07. Bulls need to break above 1.0725 for a move towards 1.08-1.09 to be possible. More pairs in my comments area.

Thank you for taking the time to catch up on my thinking.

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.