DXY - Last three daily candles... 1) Broke above long term channel support and closed at YTD high. 2) Small inside candle which retested channel resistance turned support. 3) Combination of the two prior candles would indicate trend continuation higher.
99.37 was the upper wick from last swing high and still stands as YTD high. Coincides with a support level consisting of weekly candles close back in 2016. I will post a snapshot in the comments. May still be some sellers there, but the last push down didn't produce much follow through.
The green box is drawn from significant swing highs back in 2016. The top of the box near 100 (Strong psychological level) should attract strong sellers.
99.37 was the upper wick from last swing high and still stands as YTD high. Coincides with a support level consisting of weekly candles close back in 2016. I will post a snapshot in the comments. May still be some sellers there, but the last push down didn't produce much follow through.
The green box is drawn from significant swing highs back in 2016. The top of the box near 100 (Strong psychological level) should attract strong sellers.
Comment:
Long term weekly chart shwing break of channel resistance.
