technical break in the Dollar Index, sustainable?
In the past week we have seen a textbook technical break in the DXY on wednesday, with a test of the 91.00 (resistance turning support) on thursday, prior to pushing the market higher.
On friday however, during London opening hours the price surged higher, but quickly lost appetite and slipped slightly lower than the opening price. A very clear Shooting Star candle appeared on the Daily candle.
At the moment, the shooting star does not mean much yet, we will have to await confirmation on Monday, if price fails to break the high of friday, we might find ourselves back within the range of 2018. It could be that the 91.00 level offers support to the bulls which could lead to a retest/break of the high.
Only time will tell, but i wouldn't treat it as a definitive break, just my2cents.
On friday however, during London opening hours the price surged higher, but quickly lost appetite and slipped slightly lower than the opening price. A very clear Shooting Star candle appeared on the Daily candle.
At the moment, the shooting star does not mean much yet, we will have to await confirmation on Monday, if price fails to break the high of friday, we might find ourselves back within the range of 2018. It could be that the 91.00 level offers support to the bulls which could lead to a retest/break of the high.
Only time will tell, but i wouldn't treat it as a definitive break, just my2cents.