Good morning traders,
The update to the Vantage FX website has actually locked me out, so I’m just publishing this to my personal blog today. Go and take a look at the site and bare with our IT team as some of the anchor text and link problems are ironed out.
The big news overnight is the fact that the US Dollar Index broke through daily support:
Click on chart to see a larger view.
You can see however, that while price broke through the first level of support, the second lower line can turn what we’re looking at into a zone, therefore meaning not all hope for Dollar bulls is lost just yet.
The question now becomes, is this just a final flush out of stops that were too obviously placed just at the other side of major support/resistance levels across the majors? Let us know your thoughts by giving either @danewilliamsau or @VantageFX a mention on Twitter.
Best of probabilities to you!
Dane Williams – @VantageFX
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Source: Vantage FX Blog