The dollar index has been losing its previous bullish momentum for a couple of days now, encountering resistance in the 104.50-104.70 zone. This resistance coincides with the resistance from the end of July.
From this morning, we see a pullback to the 104.00 level and a hint of a turn to the bearish side. The first target is the EMA 200 daily at 103.40. If the support is not enough, the index could continue up to 102.00.
Maybe this pullback will be short-lived, and we will see a return to the bullish side again. We will be looking at a jump from 105.00 to a new four-month high.
From this morning, we see a pullback to the 104.00 level and a hint of a turn to the bearish side. The first target is the EMA 200 daily at 103.40. If the support is not enough, the index could continue up to 102.00.
Maybe this pullback will be short-lived, and we will see a return to the bullish side again. We will be looking at a jump from 105.00 to a new four-month high.
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