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USDBGN will the King USD hegemony end

USDBGN D1 Our expectations:

The pair approaches key levels of support, as a break below 1.6995 may create a prerequisite for the US dollar to fall to levels 1.6555.

The statistical beginning of each year is negative for USD, with January usually the worst month for green money. We remain cautious about a likely break below those levels where there is a horizontal and diagonal support.

The foundation before the EUR and, respectively, the Bulgarian lev remains difficult to predict due to the expectation of the Brexit deal.

The negativism of recent weeks around Italy has now been exhausted, and this creates the opportunity to buy the single currency, and it is good to do it only after breaking into the levels.

Alternative scenario: If the price still fails to break below key support levels / a false break with a bottom under the support and closing over them / this could lead to a rebound in price from these levels and see again a strong dollar and price to the previous tops about 1.74.


 Trader Nikolay Georgiev

Varchev Absolute Trader

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