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Breakout of triangle fill perfectly the take profit target and is confirmed by high of 3 Jan as it becomes the resistance level. 100% pure technical trade helped by fundamentals
Market reversed after an head&shoulder braked the uptrend line and come back to test 100; never reach 100 again and continues on an uptrend going in a ascending triangle which braked through for a continuation of the bullish trend
Crude oil and the US dollar index in the last six trading sessions
Between June 7 and June 14, 2016, crude oil (USO) fell by ~3.7% while the US Dollar Index (UUP) rose by around 1.2%. The US Dollar Index initially fell after weak US non-farm payroll data were released on June 3, 2016. This could delay the timing of the next interest rate hike.
However, after...
For 2015 and 2016 US Dollar gyrate between 94 and 100; First day of September catch the index near 96 , a level that it is to be mentioned as the level after Brexit. Next targets are 97.60 and 98.60 and of course the psychological level of 100 from where US Dollar can break and continue upward trend.
From fundamental point of view ( that can move the...