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FxWirePro Call Review: USD bulls win over bears; target revised higher

In our last call review, https://www.econotimes.com/FxWirePro-Call-Review-USD-trapped-in-Bull-Bear-tug-of-war-bears-eye-2-percent-decline-bulls-target-more-than-3-percent-1264126 we suggested that USD is trapped in a Bull/Bear fight, where bears were eyeing further 2  percent decline from the then current rate of 89.6 (Dollar index), whereas bulls were targeting more than 3 percent gains (3.3 percent to be exact or 92.5 area).

Since that review, the index has moved higher and is currently trading around 91.15 area. Our calculations suggest that the bulls have won over the bears and based on that development, we would like to extend our bull side target for the USD index from 92.5 area to 93.8 area.

One must note that this a correction call; our relatively longer-term outlook for the USD remains bearish.

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