Dollar Index | At Resistance | RSI at 85 on 4H | 1.414 Fib Ext
Fellow Traders,
Few signs that the US Dollar Index is at resistance.
1. RSI on 4H Chart is at 85.5 which is a resistance level that has previously been rejected off. Twice.
2. Price has extended to a 1.414 Fib Ext level, which is a common level for profit taking and thus potential resistance.
Tread carefully with this in mind as you trade pairs associated with the USD folks.
All the best,
Luke
Few signs that the US Dollar Index is at resistance.
1. RSI on 4H Chart is at 85.5 which is a resistance level that has previously been rejected off. Twice.
2. Price has extended to a 1.414 Fib Ext level, which is a common level for profit taking and thus potential resistance.
Tread carefully with this in mind as you trade pairs associated with the USD folks.
All the best,
Luke
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