Dollar failed to clear previous high, targeting previous support
Absent a clear escalation in Russian-Ukrainian tensions and a FOMC meeting scheduled for this Wednesday, the outlook remains cautious. The dollar index is stable.
At 99.30 points, we can see the bearish price action forming around the previous high, and the 30 minutes timeframe shows that DXY has broken below the previous low support and formed a new lower low, which makes me believe that DXY is going to move lower during the day to reach its previous low support of 98 points.
At 99.30 points, we can see the bearish price action forming around the previous high, and the 30 minutes timeframe shows that DXY has broken below the previous low support and formed a new lower low, which makes me believe that DXY is going to move lower during the day to reach its previous low support of 98 points.
Trade closed: target reached:
Price fell smoothly to our mentioned support 98 points