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Dollar Index: uptrend looks poised to resume with 101.30 and 101.80/102.10 in sight - SocGen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at Societe Generale, suggests that the Dollar Index broke above a multi-decadal resistance line last year (93.25/92.50) and sparked decisive bullish signals, which suggest the uptrend should continue towards 103.30/104.10.

    Key Quotes

    “Earlier this week, the index staged a pullback after nearing the March highs of 100.40, and hit 97.40/10, the 50% retracement from the October lows. With weekly RSI close to a support line, recent lows and, more importantly, a multi-month triangle, the limit at 96.40 will be an important level. The uptrend looks poised to resume, and we expect new marginal highs towards 101.30 and 101.80/102.10 to be reached soon.”
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