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21 May 2015
USD Index resuming its uptrend – BAML
FXStreet (Barcelona) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, believes that the USD Index is basing and is set to resume its uptrend towards 100.39 and beyond.
Key Quotes
“After 2 months of correcting, the US $ Index is resuming its larger uptrend. The impulsive gains from 93.13 (May-14 low) turn attention to the old range lows at 96.46/96.17. Through here confirms a return to trend, targeting the March highs at 100.39 and beyond. Pullbacks should be bought and not break the 93.13 lows”
Key Quotes
“After 2 months of correcting, the US $ Index is resuming its larger uptrend. The impulsive gains from 93.13 (May-14 low) turn attention to the old range lows at 96.46/96.17. Through here confirms a return to trend, targeting the March highs at 100.39 and beyond. Pullbacks should be bought and not break the 93.13 lows”