Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Dollar index tested 76.87 this week after launching off its important 81.00 level a month ago. Bearish trend was really strong and despite of some better-than-expected news releases bears strength remained intact.
Price almost reached the weekly trendline and previous low at the 77.00-76.00 support zone.
And in the daily chart we have got a strong bullish engulfing after a doji candle:
Sentiment of the market participants is going to change as price action told us yesterday, so the next confirmation would be today’s NFP and watch carefully how price will act after this news release. USD bulls can run the market from now on and trading USD strength would be the best choice for us in the next week.
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