Forex Technical Analysis
The U.S. Dollar recover big time against a basket of major currencies as pessimistic increased demand for risk assets and by chance to increase rates in 2022-2023The US dollar index measures the performance of the dollar against a basket of global currencies
US dollar index (DXY) recover from 30-month low trading at $89.40, and trade now at 92.30$
Since March 2020, most of the currencies have gained significantly against the dollar, the question is whether this time, as at the beginning of 2018, the dollar will make a strong U-turn, or whether we have another round of weakness ahead of us.
You must be prepared: take a long position in the breakout of the critical levels, or alternatively, take a short position in resistance, in any case, we are expected to have rewarding moves
my assumption that this round will continue to
EUR / USD Technical analysis
support 1.1810,1.1760,1.1640Resistance 1.2040Target 1.25-1.26EUR/USD above those numbers will target 1.25-1.26 resistance. On the downside, a break of 1.1640 support will turn bias back to the downside!
GBP / USD Technical analysis
support 1.3780,13620Resistance 1.3480Target 1.44-146GBP/USD On the upside, above 1.3460-80 will target 1.43-1.46 resistance. On the downside, a break of 1.3450support will turn bias back to the downside
USD / CAD Technical analysis
resistance 1.2530 1.2790 Target 1.19-1.20USD/CAD above those numbers will target 1.31 resistance. On the downside, a break of 1.1640 support will turn bias back to the downside!
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