The Chart is USD Index
USD Index has been one of the best performing asset in last 1.5 years. It managed an impressive turnaround above 50 week moving average in July 2014 and made a stunning up move from levels of 81 to 100.5 in less than 8 months. USD index since then has traded sideways with support at 50-week ma. It's matter of time before USD index takes out 100.5
Trading Rule: Generally, when asset is in uptrend - then no resistance is good enough and eventually it does give way to new highs
The big question:
- When will USD index take out 100.5?
- What kind of impact that breakout above 100.5 will have on the Global financial market?
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication, you agree to make no trade relying in whole or in part on the comments of the writers