DXY rallies hard to key level

Orlando Gutierrez Learn 2 Trade

The US Dollar Currency index rallied hard in early European trade to the previous lows and is now breaking the current breaking structure. Technically speaking a clean break above the 93.40 level would open room for at least a 0.50% move to the upside to the 93.90 level. USD buys are in play (USDCAD +0.40%, USDMXN +1.09%).

Heads up to USD sellers here. but if the DXY breaks the current bearish structure and the previous highs (93.40) look for USD buys pre US trade.

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Author

Orlando Gutierrez

Learn 2 Trade

Orlando has been involved in the financial markets for about 10 years. His focus is Global Macro and he is a strong believer that the best way to trade the currency markets is focusing on the big picture and holding on to big macro trends.

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