here we are with the new USD index weekly report. ForexTeam traders think that at present time (august-september) it could be price rebound from support level 93.00, the same picture like in Dec. 2016 – Jan. 2017, but now from other side.
ForexTeam traders are watching now for USD Index consolidation and rebound pattern to develop. At the end of July 2017 we can expect one more leg down to support level 93, it is the lower edge of the band 93-100, developed from 2015. 95.10 – is the next resistance target for rebound from 93 support level.
we present USD Index short weekly review for the nearest future.
ForexTeam still think that USD Index is under bears pressure and it could be possible correction to the resistance level 96.20-96.50 and if this level will not broken up than we expect further jump down to the support level on 94.00
From other hand, if this scenario is right, we expect EURUSD (1.19) and GBPUSD (1.35) rise!
According our forex market research, ForexTeam is still by GBPUSD sell action. We think that soon on H4 time frame will be formed H&S structure and if this is the case, we expect GBPUSD sell till support level at 1.27
By the way, important resistance level at 1.2956 !