DXY: Testing cloud support
USDX is trading at upper cloud boundary and at a very critical level. A break below will be a Bearish sign. Daily closure below the cloud support will open the way for 95.50-95 before we see a strong bounce. Resistance is at 97.50, if broken we will see 98 level. Cloud support at 97.10-97 is a strong support area and the price is testing upper cloud boundary. We can trust the cloud support and can enter long with tight stops. Bulls and Bears both should be very cautious at this moment. If support breaks and DXY settles below 96.90 then I will turn neutral and will look to enter long from 95.50 area.
Recommendations: Long at 97.15 with stop loss 96.80 and Take profit should be 97.50 first, if broken then extend TP limit to 98.50 as a medium term target
Recommendations: Long at 97.15 with stop loss 96.80 and Take profit should be 97.50 first, if broken then extend TP limit to 98.50 as a medium term target
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