US $ Index bull trend is about to resume: BofA Merrill Lynch
Quotes from BofA Merrill Lynch:- For the past 3 weeks the US $ Index has been caught in a well defined contracting range. Now that range is drawing to a close and the larger bull trend is about resume. - As such we recom…
- For the past 3 weeks the US $ Index has been caught in a well defined contracting range. Now that range is drawing to a close and the larger bull trend is about resume.
- As such we recommend buying the US $ Index at 94.10 for resumption of the advance. A break of Triangle resistance (now 94.91) confirms a return to trend. Upside targets are seen to 97.01 and potentially beyond.
- Pullbacks should not break the 34d average (now 93.58), while a move below the Feb-03 low at 93.25 invalidates the bullish setup.
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