Dollar index long view

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Last Friday, the dollar index successfully closed the gap from January. After that, this week, the dollar managed to recover from 102.50 to 103.50 levels. We have additional support in the EMA50 moving average. On Wednesday, the FED will announce the future interest rate. Expectations are that it could remain at the same level. This could strengthen the dollar index, and our target is 104.00, around the monthly open level.

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A possible retest of the monthly open price before we go higher on the bullish side

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test for monthly open price

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