Forex Trading: US$ Index, weekly squeeze

by Joe Oliver, Forex Trading-Pips

Forex Trading: US$ index continues to trade in the weekly squeeze indicating contracting volatility. Squeeze contraction typically precedes a breakout move. The weekly bear wedge formation indicates a possible downside break in US$, target 71.3

Forex Trading, US$ Index weekly bars

Forex Trading, US$ Index weekly bars

 

 

 

 

 

 

 

Forex Trading: EUR is the inverse of US$ index, also in squeeze and putting to test the upside of a bull wedge formation. A breakout to the upside is likely.

Forex Trading, EUR weekly bars

Forex Trading, EUR weekly bars