Top trade of the week - Dollar Index | Bulletproof Traders
Bulletproof Traders in-house trading activities presents our exclusive outlook on the Dollar Index. Targeting the medium-term cycle, we believe the price of the greenback could potentially turn around for a massive upside reversal.
Even though negative momentum is still driving the index downwards, we believe it might turn out to be a bearish trap after all. That is why we are being apprehensive about our positioning against the US Dolllar.
A weekly closing bar below 95.23 will make a strong case for a downside breakout. On the other hand, pulling back up above this key-level by the end of the week will strongly suggest a full fledged up side reversal is in the making.
* Bulletproof Traders is a members-only Forex trading club. Run by an elite team of traders and market analysts, using science based approach to master the art of trading.
www.BulletproofTraders.com
Even though negative momentum is still driving the index downwards, we believe it might turn out to be a bearish trap after all. That is why we are being apprehensive about our positioning against the US Dolllar.
A weekly closing bar below 95.23 will make a strong case for a downside breakout. On the other hand, pulling back up above this key-level by the end of the week will strongly suggest a full fledged up side reversal is in the making.
* Bulletproof Traders is a members-only Forex trading club. Run by an elite team of traders and market analysts, using science based approach to master the art of trading.
www.BulletproofTraders.com
