King Dollar

King Dollar showing the expected strength after bouncing from 95.5 support zone I’ve talked about it earlier this year ( January article )  which could take it for new highs around 102 – 103 . The main focus for next week will be 98.5 area which will decide either a pullback for USD that could even extend to 94 – 93 or a straight breakout above 99 !


 

However Dollar bulls shouldn’t be looking for a strong breakout because if we take a look at bigger picture we find out the upside target is limited to 102 – 105 range to finish the move from 2007 lows and then a correction to take the DXY back to 90 – 87  territory !!

 

AlienOvichO

Full time Trader & Analyst