Dollar Index
RSI is inoverbought on daily chart.
The base for Dollar Index is 90-88.
Falling Dollar Index is generally helps the equity market to
move up.
Remained flat between 90-88 help as well.
Now Dollar Index has been up as seen in the chart.
Daily chart gets in Overbought.
The trend line resistance is around 93.
The lower top is 93.44.
The supply zone is 92.87-93.44.
Expect resistance to be witnessed at trend line in near term
unless vertical spike beyond 93.44 is witnessed.
It could still be an opportunity as Dollar Index hits
93-93.44 for a possible swing bottom for near term in
equities or create negative divergence if sustained breakout
above 93.44 is witnessed.
For the time being it looks that
breakdown below 90-88 is unlikely and correction if any
after hitting 93-94 zone could be consolidation
to eventually move higher for Up trend is Dollar Index.
A sustained trend line breakout will be key decider.
If breakout is violated then expect equities to suffer.
RSI is inoverbought on daily chart.
The base for Dollar Index is 90-88.
Falling Dollar Index is generally helps the equity market to
move up.
Remained flat between 90-88 help as well.
Now Dollar Index has been up as seen in the chart.
Daily chart gets in Overbought.
The trend line resistance is around 93.
The lower top is 93.44.
The supply zone is 92.87-93.44.
Expect resistance to be witnessed at trend line in near term
unless vertical spike beyond 93.44 is witnessed.
It could still be an opportunity as Dollar Index hits
93-93.44 for a possible swing bottom for near term in
equities or create negative divergence if sustained breakout
above 93.44 is witnessed.
For the time being it looks that
breakdown below 90-88 is unlikely and correction if any
after hitting 93-94 zone could be consolidation
to eventually move higher for Up trend is Dollar Index.
A sustained trend line breakout will be key decider.
If breakout is violated then expect equities to suffer.