InvestingScope
Long

Dollar Index: Potential rebound points. Near 100 target.

TVC:DXY   U.S. Dollar Currency Index
DXY has been trading within a long term 1M Channel Up ( RSI = 58.550, MACD = 0.590, Highs/Lows = 0.6224) since May 2018. The pace has been very steady and the High - Low signals clear. The price mostly traded on the inner channel with the 1D MA50 and MA200 coming to support the next rise to a Higher High.

We are currently pulling back from such a Higher High and the two potential rebound points are the MA periods and to a lesser extent (as it was only needed two times in the past year) the outer Higher Low of the 1M Channel Up.

The targeted zone is 99.50 - 99.80 as suggested by the Low-to-High sequence.




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Good, sober analysis. Thanks for that.
+1 Reply
@ReallyMe, Thank you.
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