Charting the markets: 28 March
Today we'll be analysing the US dollar's price movements and discussing key indices and commodities to help traders make informed decisions
He talks about the US dollar and its recent sideways movement after going back and forth through some moving averages. He predicts a range of $102.15 to $104.70 for the dollar index and suggests a trade opportunity if there is a bearish reversal. He mentions initial support at $102.85 and potential upside if it breaks above $104.70.
Moving on to the EUR/USD pair, Murison mentions a downtrend and a downside breakout. He advises caution as long as the price remains resistant at a certain level. He also discusses the GBP/USD pair, and identifies a range-bound trading environment with a bearish reversal and a lower support level. He suggests waiting for a breakout or a reversal at key levels before considering a trade.
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