The recovery of the US dollar at the end of February can be expanded until March because a higher reversal can take place.
Investors who were surprised by the prospect of US President Donald Trump’s coming tariff encouraged sales waves on Friday which reached a currency that was sensitive to risks such as the Australian dollar, increasing the US dollar. Euro also struggled against Greenback.
The USD index, which tracks Greenback against a basket of six main currencies, on Thursday registered the biggest one -day increase since mid -December. That after failing earlier this week to maintain a pause below 106,342 Fibo, Retrace 38.2% from an increase of 100,150 to 110,170 (September to January), the possibility of “bear traps”.
Bear traps are determined when the market breaks below the technical level but then reversed and is usually a sign of bullish. There is space for further profit to the level of 108.00 which is psychologically significant.
Source: Reuters
