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Expert In



Bulls remain in control of the trend in the Dollar index

The Dollar index continues making higher highs and higher lows. Price made a pull back last Friday, but there is no trend change. Price has surpassed the 50% Fibonacci retracement target and is now moving towards our next target. The reversal from the 89-90 level is so far repeating the past behavior from 2017.


Blue line - support trend line

Green lines - Fibonacci retracements

The Dollar index is above the 50% retracement. As long as price is above last week's lows, we remain confident of reaching the 61.8% retracement level over the coming days. Key support by the blue upward sloping trend line is found at 94.50. Previous resistance is now support. The RSI has not provided a bearish divergence and therefore there are increased chances of seeing price make new higher highs.

The material has been provided by InstaForex Company -