Michael_Macdonald-XATSUK

USD DXY balanced at highs. Further gains in the coming months

TVC:DXY   U.S. Dollar Currency Index
The anticipated minor corrective pullback has been seen, with prices unwinding lower before posting a sharp bounce from the 99.43 low of 8 December.

Immediate focus is back on the 101.80, (61.8%) retracement of the 2001-2008 fall, the 102.05 monthly high of 24 November and 102.15 high of March 2003, but mixed daily studies suggest potential for consolidation beneath here.

In the coming weeks, however, prices are expected to continue higher, as the Tension Indicator, not shown, strengthens and background readings improve, with a close above 102.05/15 confirming a multi-month USD rally and opening up the 103.20 year high of January 2003.

An unexpected close below the 99.15 break level will delay gains, and turn investors neutral once again, as congestion around 98.00 then attracts.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out