FxWirePro: Buy USD at dips targeting 10 percent upside heading into 2020
The USD is being battered across the board today, however, we expect the dips lower to be a fresh opportunity to long the USD. The stronger U.S. economy compared to the rest of the world and Trump administration’s pro-US…
The USD is being battered across the board today, however, we expect the dips lower to be a fresh opportunity to long the USD. The stronger U.S. economy compared to the rest of the world and Trump administration’s pro-USD policies are likely to keep the USD in bid.
Today, the USD is down
0.35 percent against the euro.
0.31 percent against the Swiss franc.
0.45 percent against the Australian dollar.
0.58 percent against the New Zealand dollar.
0.14 percent against the Canadian dollar.
And flat against the pound and the yen.
However, our calculations suggest that USD is likely to move higher largely due to dollar-positive trade stance, and due to tight dollar liquidity in the cash market.
Trade idea:
Long FXCM USD index at the current price of 12300 and at dips with a target of 13650 and the stop loss around 11550 area
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