USD Index to extend its decline on failure to hold 101.30 – SocGen
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
The US Dollar Index is approaching a multi month descending trend line and in proximity to last May trough of 101.30. A break below here could open up further falls, economists at Société Générale report.
“Daily MACD has started posting positive divergence which denotes receding downward momentum; however last week high of 103 must be overcome to affirm a short-term up move.”
“Failure to hold 101.30 could mean persistence in decline towards next potential support of 100.60/100.00 representing the peak of 2015.”
[/s2If]
Join Our Telegram Group
