US Dollar Index
OUTLOOK
US Dollar It is still on track for a fifth consecutive week of gains as the resilient US economy signaled that interest rates should be kept higher for longer.
Currently, the price of DXY trade at the sensitive zone between 102.71 - 103.23 which is strong resistance area so the price will face two scenarios
First scenario and Most likely , consolidation under 102.71 it will help the price to visit the previous broken area and the line of 101.67 and be tested or the price can go a little further , for example to 100.45 and 99.53 but before the support line 101.67 break the market will retest again to the resistance area and the will drop
second scenario , consolidation above the resistance area which help the price to build the positive momentum and start to attack the specific area like 103.94 and 105.31 and the price will be continue to update the highs
the best chance for US index , when the price break the 102.71 and make a retest again the the resistance area and then sell it .
Additionally , in this week we have a lots of news and it will affect the market
support line : 103.23 , 103.94
resistance line : 1102.71 , 101.67
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OUTLOOK
US Dollar It is still on track for a fifth consecutive week of gains as the resilient US economy signaled that interest rates should be kept higher for longer.
Currently, the price of DXY trade at the sensitive zone between 102.71 - 103.23 which is strong resistance area so the price will face two scenarios
First scenario and Most likely , consolidation under 102.71 it will help the price to visit the previous broken area and the line of 101.67 and be tested or the price can go a little further , for example to 100.45 and 99.53 but before the support line 101.67 break the market will retest again to the resistance area and the will drop
second scenario , consolidation above the resistance area which help the price to build the positive momentum and start to attack the specific area like 103.94 and 105.31 and the price will be continue to update the highs
the best chance for US index , when the price break the 102.71 and make a retest again the the resistance area and then sell it .
Additionally , in this week we have a lots of news and it will affect the market
support line : 103.23 , 103.94
resistance line : 1102.71 , 101.67
If this post was useful to you , don't forget to subscribe and like , Thanks ❤️
