USDollar: Three Break, Three Signals for ongoing rally.
This week, we should watch US Durable Good Orders and US GDP to trade USDollar, but my overall view is still BUY Dollar.
Investors is hastening to buy USDollar on over the world, they want to BUY AMERICA AS FAST AS POSSIBLE because this is the only place to store their asset and to invest. A safe place, a safe home.
Xmas and shopping season is coming, more spending sends more support to greenback.
- Technical Analysis
Like I said in the title,I see three breaks on the chart.
- RSI break it resistance. RSI now is 65, more room for rally to overbought zone 80
- SMA200+SMA100 break, a signal for uptrend in the medium and long term.
- Resistance zone break. That is a break we must not ignore. USDollar hold below this resistance zone for two months, now a break marks a shift in bias from bearish to bullish.
With those reason, I believe USDollar will keep its rally to next resistance level at 98.10
Investors is hastening to buy USDollar on over the world, they want to BUY AMERICA AS FAST AS POSSIBLE because this is the only place to store their asset and to invest. A safe place, a safe home.
Xmas and shopping season is coming, more spending sends more support to greenback.
- Technical Analysis
Like I said in the title,I see three breaks on the chart.
- RSI break it resistance. RSI now is 65, more room for rally to overbought zone 80
- SMA200+SMA100 break, a signal for uptrend in the medium and long term.
- Resistance zone break. That is a break we must not ignore. USDollar hold below this resistance zone for two months, now a break marks a shift in bias from bearish to bullish.
With those reason, I believe USDollar will keep its rally to next resistance level at 98.10