The Dollar Index Closed the Monthly Candle with Heavy Buying pressure,
previous candle close was a bullish engulfing
It was at a key area of support, and i do think we have a bottom in.
I would look for a move over the next couple months to 95 Even
and then most probable the resistance at 96
where we could get rejected for a further move down to test the 2018 lows at 88.500
If we however break this key level i would immediately get bearish for a move to 88.500
previous candle close was a bullish engulfing
It was at a key area of support, and i do think we have a bottom in.
I would look for a move over the next couple months to 95 Even
and then most probable the resistance at 96
where we could get rejected for a further move down to test the 2018 lows at 88.500
If we however break this key level i would immediately get bearish for a move to 88.500
Note
weekly closed below ssupport and invalidated the idea
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.