Technical analysis of the US dollar and forecast of the dollar price in the coming week

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Technical analysis of the US dollar and forecast of the dollar price in the coming week

In the weekly chart of the US dollar index, the downward rally of the market is limited by the 200-day exponential average and the dollar index has returned upwards. However, the market has entered a neutral phase between the levels of 103.17-104.83.

In this week's trading, if the rate of 104 points becomes resistance, the dollar index can return to the support of 103.17. With the failure of this rate, the market can start a new downward movement.

But if the dollar index goes above the rate of 104 units, it can move towards the ceiling of the neutral phase at the rate of 104.83. If this rate is broken, the market structure will rise up to the resistance of 107 units.