Considering recent PMI data shows an economic turnover, declaring the possibility of the end of a recession for the US and therefore creating a stronger currency. However, long term data suggests a weaker dollar as investors are looking for increasing interest rates for a stronger currencies against the inflation.
The technical analysis indicates a reversal at the zone likely to become a resistance. The zone was hit today but is likely to be hit again. If not, the trend is likely to continue and therefore the trade can still be taken.
The technical analysis indicates a reversal at the zone likely to become a resistance. The zone was hit today but is likely to be hit again. If not, the trend is likely to continue and therefore the trade can still be taken.
Trade attivo:
Resistance acting as a resistance as expected. More downside is likely .
Trade chiuso: obiettivo raggiunto:
Target reached . Congratulations
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