Since February 2018, a rally began in the Dollar Index which saw it move above the 200sma
in May of that year and continued until it reached a high of $97.53 in November 2018.
Price has been trending to the upside but it has been a slow gradual process,
moving sideways the majority of the time with the occasional breakout.
What helped and assisted price is continuing its ascent was the 200sma.
The decline in January 2019 saw price come close to the 200sma and found zonal support around
that area and continued to do so through to March 2019.
June to July 2019 also saw the 200sma being used as support and again in October to November 2019.
The 200sma has held price up for the whole of 2019 and may continue to do so as long as price can make it
through strong levels of resistance. The first area of resistance is the 3rd September 2019 high at $99.33.
Above this is the major $100 round number which price has not traded above since April 2017.
A break above this level should be followed by strong moves in forex currencies paired with the dollar.
Until this happens we will just have to stand aside and monitor the Dollar Index.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
in May of that year and continued until it reached a high of $97.53 in November 2018.
Price has been trending to the upside but it has been a slow gradual process,
moving sideways the majority of the time with the occasional breakout.
What helped and assisted price is continuing its ascent was the 200sma.
The decline in January 2019 saw price come close to the 200sma and found zonal support around
that area and continued to do so through to March 2019.
June to July 2019 also saw the 200sma being used as support and again in October to November 2019.
The 200sma has held price up for the whole of 2019 and may continue to do so as long as price can make it
through strong levels of resistance. The first area of resistance is the 3rd September 2019 high at $99.33.
Above this is the major $100 round number which price has not traded above since April 2017.
A break above this level should be followed by strong moves in forex currencies paired with the dollar.
Until this happens we will just have to stand aside and monitor the Dollar Index.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
