The #dollar will determine the trend #DXY
Please note the graph above:
The dollar returned to the range between support for 95.4 and resistance at 97.4.
In a normal situation, the recommendation is buying close to the support line and selling close to the resistance line, but not on this case as you can see that every time the dollar touched the 200 moving average line (yellow line) is back to rise and it can not be ignored.
In a typical scenario, the dollar will return to 97.4 in the first stage and in the second stage will rise to 98.3
In the scenario that the dollar falls below the average moving average 200, you can see this analysis as canceled
The dollar returned to the range between support for 95.4 and resistance at 97.4.
In a normal situation, the recommendation is buying close to the support line and selling close to the resistance line, but not on this case as you can see that every time the dollar touched the 200 moving average line (yellow line) is back to rise and it can not be ignored.
In a typical scenario, the dollar will return to 97.4 in the first stage and in the second stage will rise to 98.3
In the scenario that the dollar falls below the average moving average 200, you can see this analysis as canceled
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.