SO it has been awhile since I have posted on here. But I figured this could be of some value since it has been a long time since the dollar index has come into this "danger zone" so to call. The nice thing with trading is it's only dangerous if we don't know how to approach the markets. As traders we are the ones that determine our results.
Keep an eye on the dollar index as it comes into multi-year resistance. With the future plans the FED has with continuing to raise interest rates along with a strong previous week of buyer price action, I don't necessarily believe this is coming down this week but keep an eye on for the future to what the dollar does as usually the banks, government, etc. use these levels to determine economic decisions they make.
2 options here. 1st option is that the dollar continues this recent strength up into the top of this zone around the 103 price handle. Then we would have to see what price does from there. 2nd option is that price can react once again in this zone and start a bearish run for the US dollar.
Keep an eye out and lets see how the FED rules the dollar and how the technicals play out!
Cheers!
@JosePips
Keep an eye on the dollar index as it comes into multi-year resistance. With the future plans the FED has with continuing to raise interest rates along with a strong previous week of buyer price action, I don't necessarily believe this is coming down this week but keep an eye on for the future to what the dollar does as usually the banks, government, etc. use these levels to determine economic decisions they make.
2 options here. 1st option is that the dollar continues this recent strength up into the top of this zone around the 103 price handle. Then we would have to see what price does from there. 2nd option is that price can react once again in this zone and start a bearish run for the US dollar.
Keep an eye out and lets see how the FED rules the dollar and how the technicals play out!
Cheers!
@JosePips