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We see a corrective price action on DXY. It is likely to test 94.10 – 94.00 as seen on the chart. This is not a trend reversal as long as the DXY does not break below the trend line.

Midterm trend reversal may happen with the breakout of the trend line.

All bullish actions on EURUSD and GBPUSD might be considered as corrections as long as the DXY holds above 94.00.

EURUSD: 1.17800 – 1.18200

GBPUSD: 1.33800 – 1.34270

XAUUSD: 1.252

If the current decline continues on DXY, the above levels are likely to be tested and can be used as selling opportunities depending on the DXY at 94.00.


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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money



When to buy EURUSD:  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility



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