Currency Outlook Week 40

Signal data Provided as a sample, with Permission by Yaser Alwawi

USDX having difficulty breaking the 90.99 level and started to draw a higher bottom than the previous one and broke the channel but has difficulty breaching the resistance 92.65 And if the resistance broke and settled above it then the pair will start achieve his targets but the resistance 95.20 is the strongest But if the 90.99 support is broken then he will complete his bearish journey


We have noted above that the stability of the Pound Index above 2.591 will move the pair to the upside trend and has targets to achieve. Indeed, the first goal has been achieved, but the weekly candle does not warn of an ups or downs, it’s a confusing candle. I expect him to retest the 2.591 but if he achieve his second target and stabilizing above 2.6306 level that will open the door to achieve more targets



We also talked about the stability of the Yen Index above the level 57.254 will let him start achieve his targets , but the probability of re-testing 57,254 is larger



Previously we talked about Euro index by closing a day candle above 2.3157 will support the bullishness and expected a correction to complete the head and shoulders reflective. My expectation was right and went up to get his first target and in order to complete his targets he must break the neckline and stability above 2.3242