Hi Everyone,
Well as we expected the dollar index continued to weaken causing some strong buying momentum for the EUR/USD and other USD pairs. Now that we have seen the initial move towards 90.00 on the DXY a possible pullback opportunity opens up with a pullback to the 38.2 fib retracement level. At this point we have the 20 and 50 exponential moving averages acting as dynamic support , a fib level and also a new clear take profit at the previous highs.
Good luck,
Tom
Well as we expected the dollar index continued to weaken causing some strong buying momentum for the EUR/USD and other USD pairs. Now that we have seen the initial move towards 90.00 on the DXY a possible pullback opportunity opens up with a pullback to the 38.2 fib retracement level. At this point we have the 20 and 50 exponential moving averages acting as dynamic support , a fib level and also a new clear take profit at the previous highs.
Good luck,
Tom
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