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5 May 2015
Bullish conditions for the USD Index – BAML
FXStreet (Barcelona) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, expects further USD weakness to be short lived and the bull trend of the USD Index to resume.
Key Quotes
“Evidence says that the US $ correction is completing and that its long-term bull trend is set to resume. The Thursday Bullish Outside Day on the 34d MA (96.54), coupled with the bullish turn in daily momentum, says that it's time to start looking for a return to trend. While we can't rule out a last probe toward 95.00 (€/$ can still push toward 1.1389), further $ weakness should be short-lived.”
Key Quotes
“Evidence says that the US $ correction is completing and that its long-term bull trend is set to resume. The Thursday Bullish Outside Day on the 34d MA (96.54), coupled with the bullish turn in daily momentum, says that it's time to start looking for a return to trend. While we can't rule out a last probe toward 95.00 (€/$ can still push toward 1.1389), further $ weakness should be short-lived.”