Hi Traders,
The US dollar index is trading with momentum after the 6-week high at 103.572 was broken and is now approaching its 3-month high at 104.714.
Looking at the price action on the chart, the market is still inside the ascending price channel, and the highs and lows are still higher, so our bullish outlook on the dollar index continues.
We have the manufacturing and services PMI figures for the US coming out in just under a couple of hours, which the market will be keeping an eye on. A strong PMI reading will continue our bullish bias even further, and 104.714 will be the target. 103.572 will now be the support level if there are any pullbacks.
Please do not forget to like, comment, and follow as your support greatly helps.
Thank you for your support.
BluetonaFX
The US dollar index is trading with momentum after the 6-week high at 103.572 was broken and is now approaching its 3-month high at 104.714.
Looking at the price action on the chart, the market is still inside the ascending price channel, and the highs and lows are still higher, so our bullish outlook on the dollar index continues.
We have the manufacturing and services PMI figures for the US coming out in just under a couple of hours, which the market will be keeping an eye on. A strong PMI reading will continue our bullish bias even further, and 104.714 will be the target. 103.572 will now be the support level if there are any pullbacks.
Please do not forget to like, comment, and follow as your support greatly helps.
Thank you for your support.
BluetonaFX
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JOIN OUR FREE TELEGRAM CHANNEL
t.me/bluetonaFX
t.me/bluetonaFX
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.