Considering that the dollar index is on the line of its long-term upward trend in the weekly time and also that the euro is in the resistance of a medium-term channel, it seems that we have a short-term correction in response to this resistance.
Note
The Rsi indicator is in the overbought area or close to it in all time frames.Buy positions in this area is very risky !
Trade active
on its way down :)Note
nice move !here is the key point!
a strong reverse is happening and can go for a bull retrace
Note
target is here !
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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.