My daily outlook on the USD Index
Price dropped from MM3 with a overbought stoch and is now on the fall. The target for the month is MM1. Bulls will enter at MM2 we just have to see if they are enough to push prices up. If price reaches the months target the Index will be technically bearish.
Price reached weekly target after a strong drop from WM2. Price went on to break 100.00 psych level. Most possible setup from here is a rise to WPP. However the is further support eyed at fib61.8.
Market is bearish. Price is bearish. stoch is oversold. Price opened the day at DM2 support. With the oversold stoch we might see a rise up to resistance in my opinion we wont go far as Today's daily target. Price might rally up to 100.25 before we see another drop. But if H4 counter trend trade is successful we will go as high as today's daily target.