As we can see from the chart price heavily rejected support and is heading down to an existing support level
I am waiting for price to retrace and break through then we will be buying to the target area
The DXY is currently consolidating in this area on the monthly chart.. from what i can see price is being rejected heavily from above
When price eventually breaks support I am going for a LONG ASS SELL
Price is currently being rejected at resistance so we can look for sells on the lower time frames, but once broken we can buy to the next level of resistance marked on the chart
Be aware that this is on an uptrend but you can scalp a profit off the 1h or 30m
95.00 resistance and 94.00 support is a key area of interest for the Dollar as you can see how price reacted previously to these levels. It has tapped 95.00 today and pulled back so there is bullish pressure there, but can the bears keep it below this level and closer to 94.00?
The last two weeks we have seen some bullish moves with the Dollar which broke the DXY out of a low range. However on a weekly chart, we can see it has now reached a descending trendline around the 93.00 level. Could this be a bit of a make or break move for the Dollar? With a break to the upside and push towards previous 2017 highs or a rejection and downside...