My review on the USD Index following my outlook earlier on

H4 chart

Today price dropped sharply from 100.00 down to 99.50 following UK Prime Minster statement. We are at the weekly target, this suggest a counter trend trade back to WPP. If price continue its drop next support is eyed at 99.00 and then WS3. A break below these support levels would mean a bearish dollar, TECHNICALLY. With the chances for a June hike decreasing this is possible. If price finds support between 99.00 and WS3 this would mean a new trading range for the USD Index and we would be bottom of the range.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.