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Again support for the dollar in the coming week

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  • Again support for the dollar in the coming week

    The Euro takes advantage against the Euro for two days only in serial of almost 7 losing days.
    Better than expected data for United States support the gains of the dollar. Meanwhile in the Euro Zone day after day the fears about the economic rises.
    One of the key supports for the dollar comes by the Fed Chairman Janet Yellen who hints that on the next Fed meeting in March is possible hike of the Interest rates.
    The major support level is formed at 1.0580 followed by 1.0520. The resistance is formed at levels of 1.0670.
    On Monday is a holiday in United States for the President's Day so we expect flat market as overall while during the week the dollar may gain below 1.0520. trading strategy is to keep or open short positions at levels above 1.0640 and target 1.0520 and below.
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