US Dollar Above $100!
The US Dollar continues to gain strength and has been in a consistent rise
since June 2021, where we have seen price climb 13.06%.
Note that price is still inside a long-term area of consolidation that has lasted
since January 2017, between a high of 103.96 and a low of 88.15.
As this is a wide area of consolidation, price has enough room to form a trend
that is currently in play and moving strong, especially for this month.
Price is now trading above the $100 round number and moving towards the
consolidation resistance level at 88.15.
If we have a breakout of the resistance level, we should see a big trend unfold
because the larger the area of consolidation, the bigger the move in the direction
of the breakout.
Patience for now. If price breaks out, we will likely see other forex pairs form strong trends.
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since June 2021, where we have seen price climb 13.06%.
Note that price is still inside a long-term area of consolidation that has lasted
since January 2017, between a high of 103.96 and a low of 88.15.
As this is a wide area of consolidation, price has enough room to form a trend
that is currently in play and moving strong, especially for this month.
Price is now trading above the $100 round number and moving towards the
consolidation resistance level at 88.15.
If we have a breakout of the resistance level, we should see a big trend unfold
because the larger the area of consolidation, the bigger the move in the direction
of the breakout.
Patience for now. If price breaks out, we will likely see other forex pairs form strong trends.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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