The Dollar index started weak on Monday but found support at the Ichimoku cloud, at the 38% Fibonacci retracement and at the broken resistance trend line.
Red line - resistance trend line (broken)The Dollar index bounced right off support. This support is at 89.50. As long as price is above that level bulls have hopes. Resistance is at 90.05. A break above resistance would be a very bullish sign for the index and if it happens, I would expect price to move towards 91-92.
Blue line - resistanceOn a daily basis the Dollar index remains above both indicators. But also below the daily Kumo. Bulls need to break above the blue resistance at 90.60 for a bigger bounce to be seen. As long as we are below 90.60, there is still a big danger of seeing another sell off in the Dollar index towards 87-86.
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