In the past week US President Donald Trump’s announcement of significant changes in tax reforms over the next two to three weeks showed that the dollar index, which has fallen from its highest level in the past 14 years, has risen as a lifeline and has risen to 1244 with the help of weak dollar and risk- We witnessed a sharp fall under.
On Friday, the downturn reacted from the 1221 region, where the 100-day moving averages passed, and we saw some recovery. This week will be a major contest between the bears and the bulls, especially from the US, and under the announcement of Fed Chairman Janet Yellen about the monetary policy.
If the downturn continues, we expect 1220, 1215 and 1210 regions to work as important support below, and we may encounter a rebound in these levels of decline. In particular, forward-looking falcon texting announcements from Yellen may accelerate sales. When recovering, we recommend that 1235, 1240 and 1245 regions be regarded as resistance.