U.S. Dollar Index Bulls Need the Market to Clear 101.15
2023.07.24 07:31
creeping back up to strong resistance at 100.75/95 in the 10-month negative trend. Bulls need the market to clear 101.15 & hold above here to target 101.80/102.00.
USD/JPY higher-as-expected to my target of 140.80 but we rocketed another 115 pips on the inflation data. Minor resistance at 142.00/20. A short would not be a good idea on the bull trend but if we hold here it could trigger profit-taking to 141.20/00.
strong resistance at 1.3260/80 (not quite there yet). Shorts need stops above 1.3300. A break above 1.3300 is an important buy signal for this week.
did correct lower as expected to my target & buying opportunity at 1.1140/20. We overran a little to 1.1106. Going to use a stop at 1.1090 this time to give it a bit of room.
A break lower however risks a slide to the next buying opportunity in the 10-month bull trend at 1.1040/20.
hit my target & support at 1.2840/20 with a low for the day just 6 pips below. Still hopeful for a recovery in the bull trend & we are severely oversold in the short term. Longs need stops below 1.2795.
Targets: 1.2890, 1.2935
has broken to the downside & could fall significantly. Resistance at 8760/70
