Contra Trade: Short the Dollar Index at CMP 92.7, SL93.5 ,TGT 91
So Dollar Index has met with its old friend - a downtrendline - after a long time. We can expect an interim fall in the index from current levels of 92.7 to levels of around 91.
Its a contra position to market sentiments, hence extreme caution is adviced, however the gains will be sweet!
The RSI is also dropping from overbought levels to 68 levels, look poised to cool down further.
Its a contra position to market sentiments, hence extreme caution is adviced, however the gains will be sweet!
The RSI is also dropping from overbought levels to 68 levels, look poised to cool down further.
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