22 May 2015
DXY is resuming its uptrend - BofA
FXStreet (Bali) - MacNeil Curry, CFA, CMT, Technical Strategist at Bank of America, notes that the DXY is resuming its larger uptrend.
Key Quotes
"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."
"It’s a similarly bullish setup in $/CAD. The impulsive rebound from the confluence of support between 1.2027/1.1917 says the uptrend is trying to resume. A move above the 1.2352/1.2406 confirms a return to trend, targeting 1.2835 ahead of 1.3465."
Key Quotes
"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."
"It’s a similarly bullish setup in $/CAD. The impulsive rebound from the confluence of support between 1.2027/1.1917 says the uptrend is trying to resume. A move above the 1.2352/1.2406 confirms a return to trend, targeting 1.2835 ahead of 1.3465."