Looking at the Dollar Index (DXY) chart we can see that it is currently heading for some resistance around the 96.79 Level. If we see the DXY push through this level, then we can expect the bears to be in control of the EUR/USD currency pair.
Source – Bloomberg
Technical trade idea on EUR/USD
We are getting in at the end of this move for a couple of pips still left on the table as long as the Dollar strengthens.
Trade: EUR/USD
- Entry (Sell): 1.1350
- Stop loss: 1.1394
- Target price: 1.1298
Source – Bloomberg
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