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#1 09-10-2017 17:37:41

Admin & Trader
From: Paris - France
Registered: 21-12-2009
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USD: Bullish signs keep appearing regarding the dollar (Merrill Lynch)

USD: Bullish signs keep appearing regarding the dollar (Merrill Lynch)

Merrill Lynch believes the dollar will likely strengthen on the forex by the end of the year and offers targets for a few pairs that are worth watching.

"We are observing several technical signals on different time spans that are in favour of a rise of the USD on the forex in Q4 2017.

It is not yet clear whether this is a rebound in Q4 or the beginning of a stronger uptrend.

However, we believe that risk/benefit still favours the purchase of USD, especially if USD-friendly items materialise by the end of the year. (Fed rate hike and positive advances in tax reforms, for example).

We are still anticipating the EUR/USD at 1.15, and we are now strengthening the possibility of finding the 1.1320 level. The AUD/USD is correcting itself to the breakpoint of its triangle down from 0.76. Technical analysis further suggests an increase of the USD/JPY to 115, especially if the pair breaks the trend line more decisively at 112.66."

"Anything worth having is worth going for - all the way." - J.R. Ewing



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