DXY D1 - Short Signal DXY D1
Cleaning up our dollar index chart here, we have previously been following the price level of 103.000, then 103.300 and now we are looking at this 104.000 whole number. This would be an area of resistance we would yet again expect a rejection. Of course, we have exploded through both previous zones, after some consolidation.
Without trying to catch a falling knife, so to speak… There certainly should be a correction due on the dollar index in the near future. The bullish D1 candle run has been insane, I’d like to see a correction to around 102.000 after testing 104.000 territory.
Barriers in the interim sit at 103.300 support and 103.000 support respectively, simple resistance to support and support to resistance as we break and move beyond certain trading zones.
