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US Dollar Short-term Outlook: USD Recovery Vulnerable

From forex.com

The US Dollar Index is attempting to mark a three-day winning streak after rebounding off confluent support early in the week. The rally takes the USD into initial resistance and while the longer-term outlook for the Dollar is still constructive, the threat of a deeper correction within the broader uptrend remains while below the November-open. These are the updated targets and invalidation levels that matter on the DXY short-term technical charts. Technical Outlook: In last month’s US Dollar Short-term Outlook, we noted that DXY had marked an outside day reversal off support with the October, “opening-range now ... (full story)

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  • Category: Technical Analysis