dxy after hit bit higher possibly come down again and then reversed from reversal area
Its amazing experience to look at Dollar on monthly chart( its first time i looked Monthly chart on Dollar). All time high of 162 Resistance level 102, 120 Support level :100 ( great physiological No). but i think it will dive below that and hunt for stoploss. next support level will be 92
Since Nov 30 dollar index has moved up where as it's 25 day ROC went down. Looking at the chart it seems serious divergence & $ can correct from here against basket of other currencies. I prefer going long on Euro particular from here.
ROC(25 days) shows that up move in the dollar is about to come to an end (at least for next few days) so shorting dollar against Japanese Yen & Euro looks good trade here.
us dollar currency index have bullish walf wave setup so yellow line take long red line as sl and green line as trg ....
Has a bearish overtone, although there is no breakdown from the triangle pattern