The US DOLLAR: Target Achieved!
Last week’s post on the US Dollar was ‘spot on’ for the turning point of 94.80.
The week’s close shot up away from this critical price point after touching it mid-week briefly. This is another reminder that we need to allow for some momentum within the price trends and not to depend too much on shorter-term price swings. This same support price of 94.80 will hold for this week as it did last week.
This, in case buying starts to falter again. As I’ve discussed in earlier posts, such critical price pivot areas are excellent, low-risk areas to counter-trend trade as long as one employs close STOPS close on the other side of the pivot price point. These are the prime BUY areas for market makers working within the sideways trend for the US DOLLAR at present. – George