Dollar Index is making a right notion with the range bond zone inside which price been trading since 2016.
Price got rejected approaching the support level of the range @ 88.90, a zone where price haven't traded since 2018, the rejection is worthy, with a weekly PINBAR the first trading week of 2021, with upside continuation last week. It obvious price is going for the retest of zones above.
Price is approaching the DOWNTREND LINE from 2020 trading year @ 91.50 , with another horizontal zone just above @ 92.20. I will be looking out for rejection price action in these zone for more downside.
WHILE a push above @ 92.20 will set the $ Index higher targeting next level of resistance @ 94.80
Price got rejected approaching the support level of the range @ 88.90, a zone where price haven't traded since 2018, the rejection is worthy, with a weekly PINBAR the first trading week of 2021, with upside continuation last week. It obvious price is going for the retest of zones above.
Price is approaching the DOWNTREND LINE from 2020 trading year @ 91.50 , with another horizontal zone just above @ 92.20. I will be looking out for rejection price action in these zone for more downside.
WHILE a push above @ 92.20 will set the $ Index higher targeting next level of resistance @ 94.80