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We have mentioned in previous posts before, the similarities of the current technical picture on the Dollar index, relative to the price action and the similar conditions back in 2018. Our conclusion was that the most probable outcome would be for the Dollar index to make at least a downward move that would last at least two to three weeks.
Red lines - expected path
Yellow rectangles- similar tops
Back in 2018 a short-term top around the same levels we were over the last two months, lead to a decline that lasted nearly 5 weeks and took price from 97 to 93.80. The same decline is what we also expect to see at least in the near term. At current levels we prefer to be neutral if not bearish Dollar, as we believe there are more chances of a move lower and that the upside is limited. ;ast week price made a negative close and this week we are now trading below last week's lows. With the RSI turning below 70, I can see that it is very probable to repeat such a decline if not bigger.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
