Forex Price Action - USDINX Trade Update | Sept. 27th

dynamic resistance corrective price action usdinx sept 27th

As I wrote about two days ago, the USDINX was in a corrective pullback phase, and one should not expect USD strength to continue.  On the next day, the EU, GU, AU and NU all closed higher and continued those gains today.  As mentioned in my post, the best play was to look for a short off the dynamic resistance and daily 20ema at the 80.00 figure.  Playing out as expected, it went only 1.3pts above 80, then rejected off the daily 20ema, following it up today with a second touch off the 20ema and further selling.

Today’s selling was the most aggressive thus far, and the first day in nine that price action closed below the lows of …

... Keep reading