With some of the recent tightening rhetoric and pressure on the indexes, it's not much of a surprise demand for dollars has been increasing. We have a pretty clear bullish wedge break followed by a double bottom. Give this one at least a month or two -- I feel 26 is within reach (distance on 'W' is around 24.15-25.15, so 26.15 would be the actual expectation). We are right near short term resistance here, but I feel we will break through this as upward momentum seems quite reasonable (MACD)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.