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11 Mar 2015
USD Index bulls targeting 100 – BAML
FXStreet (Barcelona) - MacNeil Curry, Technical Strategist at BofA-Merrill Lynch, remains bullish on the USD Index, anticipating the current trend to lead to a run towards 100.
Key Quotes
“We are bullish and long the US $ Index. On Friday the DXY reached our upside target of 97.01. However, given the strength of the ongoing bull trend we recommend leaving the trade open for a run to 100 and raising our trailing stop to US $ breakout against the ¥ and ongoing bear trend in €/$ we recommend leaving this trade open and adjusting our stop to 97.20.”
Key Quotes
“We are bullish and long the US $ Index. On Friday the DXY reached our upside target of 97.01. However, given the strength of the ongoing bull trend we recommend leaving the trade open for a run to 100 and raising our trailing stop to US $ breakout against the ¥ and ongoing bear trend in €/$ we recommend leaving this trade open and adjusting our stop to 97.20.”