USD Index, most likely, will break the resistance in the next few hours.
Presidential Debate (in next week) and Presidential Election (less than 3 weeks from now) could (should) work as main engines to drive DXY closer to 96.00.
On the other hand, RSI shows a strong upward move since last couple of months, and it is not near " oversold " region yet.
#Dollar_Index returns to 93 after the release of data and market news yesterday
. The index lost value for the second day in a row and touched the 93.50 area to date.
The price has the lowest price in its movement cycle, which is the general expectation in the market to start the upward cycle of the US dollar.
. Major pivot: 93.30
. Trend : bullish setup
....
#DXY #USDindex (Update)
Still Moving Below the Downtrend Trendline But Sitting on Support..!!
I'm Bullish on #USD & Expecting Trendline Upside Breakout In Coming Days (Maybe this Week)
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Study of MACD (Source: HI, CL, LO) when Histogram <0 1st Rule=When all 3 rising. 2nd Rule=When rally just a retrace from previous high. 3rd Rule=belief this rally just a retrace. NOT ADVICE. DYOR.
The USD Index DX1! had a bullish breakout from near the end of a wedge.
This is a legit buy signal and appears to be a larger trend change, a after bullish divergence (on the MACD), with very big consequences... as it all leads towards the US Elections.
System Buy Signal generated, MACD supportive and crossed up into the bullish territory.
Be aware and beware!
#DXY (Update)
USD Has been in Down trend Since 20th March But From Last 7-8 Week, It's Been Moving in 92-93.70 Range (S/R)
If Bulls Cleared the Downtrend Resistance (94), Expecting Huge Upside Rally in Mid October. 📈
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Usd Index found a clear bottom on 92 zone and the first leg up followed that drove the index to 93.50-94.00 resistance zone.
Now the index corrected some of this first up-leg and, in my opinion, more gains will follow fo USD.
I remain bullish as long as the price stays above 92.50 zone and I will look for short opportunities in GbpUsd, AudUsd, NzdUsd and EurUsd
USD INDEX has been holding ground nearly 93.00- 92.50 points for 3 weeks. Breaking Above 94.00 may have buy confirmation. Since the middle of the march this year, USD INDEX has been dropping. So, an upside correction is expected. in the broad picture, DXY is in a downtrend and reached to its swing low area. So, we may see an upside correction to 96.00 points....
