Forex Monday the 3rd of April

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April 3, 2017
Stock charts food for thought
April 3, 2017

Greetings everyone and happy week ahead!!! We start a week where Dollar strength from last week continues to guide most pairs in favor of the greenback. However I continue to expect that this will be a lower high in the Dollar index and eventually the Dollar will be sold off. We have now  reached an important junction regarding my longer-term view for the Dollar index. The 102.30 level remains key for the Dollar index while a break below 97 will imply more downside in the longer-term.

Rejection at the cloud resistance will imply a sharp move down is coming. Specially if the black neck line and the green trend lines are broken.

The USDJPY got rejected last week at important resistance from previous lows.

As long as we hold below the blue rectangle area, we remain bearish looking for 109-108. More pairs analysis in the comments section.

 

Have a nice day.

 

 

 

 

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.