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22.11.202115:11 Forex Analysis & Reviews: Weekly analysis on the Dollar index

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The Dollar index is making new higher highs by trading above the 96 price level. Price maintains the bullish momentum and follows our bullish scenario that compared the reversal from the 89-90 level of 2020 to the reversal of 2017.

Exchange Rates 22.11.2021 analysis

Red lines -bullish RSI divergence

Blue lines- expected path

When the Dollar index was trading around 89-90 we mentioned the similarities to the pattern it followed back in 2017. Price looks to be accelerating to the upside. Our next target remains at 97.50-98 as we mentioned in our latest analysis. So far bulls remain in control and there is no sign of a reversal.

Alexandros Yfantis
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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