Forex Technical Major Pairs Analysis | April 20, 2021

USDX (USD Index) U.S dollar index reached the blue box area which is the bearish target. The index shows an initial bullish reaction today and might start a bullish leg toward 92.00 and daily SMA 200. However, it is too early for traders to assume that the index will start moving bullishly. The index needs to print a more bullish close to confirming the bounce. On the other hand, a close below the blue box area will trigger a bearish continuation. EUR/USD EUR/USD extended its bullish movement and reach the 1.2070 resistance level. There is a bearish reaction from the resistance level and might produce … (full story)

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