MG Network

our website isOn Vacation

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Long-term view for the Dollar index.

The Dollar is strengthening making new weekly highs. Price has made another major low around the 90 level and has respected the long-term support at 89-90. Price has started another upward movement as we expected, following the similar conditions from the past.

analytics6155e04ec6923.jpg

Black line - major horizontal support

Blue lines - bullish divergence

Green lines -expected path

The Dollar index is moving higher as it did back in 2017. The bullish RSI weekly divergence is similar and price again then tested the 89-90 support area. As we mentioned this pattern in previous posts, it is important to remind past is a guide and markets usually repeat patterns. Respecting the black horizontal support was a key characteristic for this bullish move.

analytics6155e1032ccf0.jpg

The Dollar index has now reached the 38% Fibonacci retracement of the entire decline from 2020 highs. This is the first Fibonacci resistance and it is very important to see if we break above it or we see a rejection. Trend remains bullish as long as price is above 92.The material has been provided by InstaForex Company - www.instaforex.com