Sforex

DXY: Test strong resistance:Where is the momentum for USDollar ?

INDEX:DXY   U.S. Dollar Index
126 0 2
Look at on the chart. DXY             test strong resistance at 95.20 where EMA50 + SMA100 + Kumo cloud converge.

So this is a strong resistance. DXY             need to be provided a strong catalyst to break those resistance levels.

Currently, I see there is little of data could provide enough fuel for Dollar to move higher from the resistance.

Howerver,I still hope USDollar             find momentum from somewhere.

Tomorrow, the main focus is US GDP , and I think the data would be positive , higher the preliminary. If this happens, DXY             could advance to Kumo cloud, and we should wait for more data because when an index reach Kumo cloud, it usually fluctuate like a plane in a strong storm.

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