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The Dollar index is approaching major monthly resistance around 103. Trend remains bullish since the low around 89-90 last year when we called the increased chances of a reversal and the possibility of a similar upward move to 2017. Back then price reached as high as 103 only to get rejected and fall back to 89-90.
The Dollar index is once again close to the upper boundary of the trading range. Will we see another rejection and major reversal back to 89-90? So far it seems that this monthly candle will be like no other so far. The RSI is making new higher highs confirming bullish strength. Are we going to see a major USD rally over the coming years? Possibly yes if price breaks out of this trading range. Bulls need not get too optimistic though. Remember how every one was bearish more than a year ago when the index was trading around 90? Traders need to remain impartial and just follow price action. Not their feelings.
*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।
