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On Sunday, during our weekly analysis we anticipated a high probability of a short term bullish move up to the structure at 107.30-107.50 where we have monthly Support S1 located. This structure was very strong in the past so now after testing this area, this time from below we may expect a move down to at least 106.00 area. At the 4 hours chart, at the moment of ...
As expected, DXY continued to gain strength and move south on the chart. DXY stands at the moment at 89.70 area and is heading for 90.50 move. DXY strength may be temporary, as a retracement of the longer term downtrend, and if DXY reaches levels of 90.50 but does not manage to break above this structure, we may expect a stronger move downwards.