USD INDEX Next week view

USD INDEX currently stands close to its support zone and psychological 80.xx level. On daily chart it rejected its old Support zone with a small bullish candle. Price rejected that zone 1 week earlier and came down to retest it. There is a chance of forming a double bottom pattern, Weekly candle also support this view. A Inverted Hammer Formed on weekly chart indicating price might reverse from this level. If USD INDEX follow its current Price Action then we may see reversal on major pairs.

 

 

USD INDEX

 

WEEKLY CHART

USD INDEX

 

 

 

 

We saw a bull rally from GBPCHF for the last two consecutive week. At the end of last week GBPCHF went for a correction but buyer pushed it up from an Old Demand zone. We can see some nice price action on Daily chart to join the rally from retracement. GBPCHF eying 1.465x+ in coming week.