US Dollar: a pull back coming soon?

US Dollar: a pull back coming soon?

US Dollar Index has been following to the bears against a basket of major currencies and it’s approaching to the 200 SMA at H1 chart, nearing to the Fibonacci level of 50% (92.14). If the index manages to break above that area, we can expect an acceleration to test September 1st highs at 92.80, at which is located the Fibo level of 78.6%.

However, if we see a pull back at the current stage, the index could plummet towards the -23.6% level at 90.42. RSI indicator remains in the positive territory.





Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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