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SEB: USD Index plotting bullish patterns – eFXnews
FXStreet (Barcelona) - The strategy team at SEB, views that the current price action of the Dollar Index signals a test of 95/96 area might be possible before the bull trend resumes, as noted by eFXnews.
Key Quotes
“Instead of the triangular consolidation that €/$ is tracing out the $ index seems to be following the path of a so called double zigzag (two upon each other following a-b-c corrections) and as such probably is targeting the 95/96- area (where the bull trend is seen resuming). A move below 97.00 will further enhance such an outcome.”
“An alternative outcome is of course that we will remain in the current range hence creating a bull triangle.”
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