Dollar Breaks Out to the Upside, Potentially Gearing Up for its Next Leg Up

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Key points in this video:

1. The dollar has broken out of the holding pattern it was in to the upside. This may set the stage for the next leg up in the dollar.

2. With that in mind, support on the EURUSD is 1.05, and resistance on USDJPY is 125. These levels might be interesting target points, especially if the dollar sells off over the next couple days.

3. Bitcoin has sold off after its parabolic move. Support is at $310 USD.

4. The Hang Seng Index and the FTSE are both stock indices in a downtrend that have had a counter-trend rally and now sit at resistance. There are some mixed bearish and bullish signals here, and so I’d pass on trading it, but its presence at a resistance level may be noteworthy and a trade opportunity for some.

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