DXY/USDCAD/EURUSD - REVERSAL EXPECTED?
DXY - Dollar Index has approached to its 5 year high of 103 - 104 with strong monthly candle.
USDCAD - is approaching to the 2021 resistance level which it breaks during Covid-19 period.
EURUSD - has been testing 2015/16 lows after breaking Covid-19 lows.
Both the pairs are heavily dependent Dollar Index which remains in limelight after FED Interest rates expectations.
What should we expect from here?
Since all three are at important levels which can be the reversal points or continuation of the main trend. We have been waiting for DXY to make a move first. If we have closing above resistance with FED rate hike in May'22 the trend will continue.
Let us know what do you think in comment sections.
USDCAD - is approaching to the 2021 resistance level which it breaks during Covid-19 period.
EURUSD - has been testing 2015/16 lows after breaking Covid-19 lows.
Both the pairs are heavily dependent Dollar Index which remains in limelight after FED Interest rates expectations.
What should we expect from here?
Since all three are at important levels which can be the reversal points or continuation of the main trend. We have been waiting for DXY to make a move first. If we have closing above resistance with FED rate hike in May'22 the trend will continue.
Let us know what do you think in comment sections.
